Paramount Resources (OTCMKTS:PRMRF) Trading 2.8% Higher - Here's What Happened

Key Points

• Paramount Resources' stock price increased by 2.8% during mid-day trading, reaching a last traded price of $16.31, though trading volume declined by 20% from the average.
• The company reported earnings per share (EPS) of $0.02 for the last quarter, missing the consensus estimate, with revenue of $93.43 million falling short of expectations.
• Paramount Resources has declared a dividend of $0.0359 per share, with a yield of 262.0%, to be paid on October 31st, with an ex-dividend date of October 15th.

Paramount Resources Ltd. (OTCMKTS:PRMRF - Get Free Report)'s stock price traded up 2.8% during mid-day trading on Thursday . The company traded as high as $16.35 and last traded at $16.31. 19,323 shares traded hands during mid-day trading, a decline of 20% from the average session volume of 24,035 shares. The stock had previously closed at $15.86.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. National Bankshares reaffirmed a "sector perform" rating on shares of Paramount Resources in a research note on Thursday, September 25th. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of Paramount Resources in a research note on Tuesday, September 23rd. Three analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of "Hold".

Paramount Resources Stock Up 2.8%

The stock has a market capitalization of $2.34 billion, a PE ratio of 2.33 and a beta of 1.31. The firm has a 50 day moving average price of $15.38 and a 200 day moving average price of $14.56.

Paramount Resources (OTCMKTS:PRMRF - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.10). The company had revenue of $93.43 million during the quarter, compared to analysts' expectations of $131.00 million. Paramount Resources had a return on equity of 7.24% and a net margin of 111.48%. On average, equities analysts forecast that Paramount Resources Ltd. will post 1.74 earnings per share for the current fiscal year.

Paramount Resources Cuts Dividend

The firm also recently declared a dividend, which will be paid on Friday, October 31st. Investors of record on Thursday, October 16th will be issued a dividend of $0.0359 per share. This represents a yield of 262.0%. The ex-dividend date is Wednesday, October 15th. Paramount Resources's dividend payout ratio (DPR) is 6.28%.

Paramount Resources Company Profile

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.

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