Paramount Resources (OTCMKTS:PRMRF) Share Price Crosses Below 50 Day Moving Average - Here's Why

Paramount Resources Ltd. (OTCMKTS:PRMRF - Get Free Report)'s share price crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $13.08 and traded as low as $11.69. Paramount Resources shares last traded at $11.76, with a volume of 17,281 shares traded.

Analysts Set New Price Targets

PRMRF has been the subject of several research analyst reports. Raymond James raised Paramount Resources to a "moderate buy" rating in a research report on Monday, April 7th. National Bank Financial lowered Paramount Resources from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 18th.

Paramount Resources Trading Up 2.5 %

The stock has a market capitalization of $1.74 billion, a P/E ratio of 6.82 and a beta of 1.88. The firm's 50 day simple moving average is $12.25 and its two-hundred day simple moving average is $17.93. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.01.

Paramount Resources Increases Dividend

The company also recently declared a dividend, which will be paid on Wednesday, April 30th. Investors of record on Wednesday, April 16th will be paid a dividend of $0.0349 per share. This is an increase from Paramount Resources's previous dividend of $0.03. This represents a yield of 3.98%. The ex-dividend date is Tuesday, April 15th. Paramount Resources's dividend payout ratio is 24.70%.

About Paramount Resources

Paramount Resources Ltd. explores for and develops conventional and unconventional petroleum and natural gas reserves and resources in Canada. The company holds interests in the Karr and Wapiti Montney properties covering an area of 109,000 net acres located south of the city of Grande Prairie, Alberta; Kaybob North Duvernay development and natural gas producing properties covering an area of 124,000 net acres located in west-central Alberta; and Willesden Green Duvernay development in central Alberta and shale gas producing properties in the Horn River Basin in northeast British Columbia covering an area of 249,000 net acres.