Paramount Resources (OTCMKTS:PRMRF) Trading Down 0.4% - Here's Why

Key Points

• Paramount Resources Ltd. shares declined by 0.4%, trading as low as $16.16, with a significant drop in trading volume at 2,553 shares compared to the average of 20,720 shares.
• Brokerages including Royal Bank of Canada and National Bankshares have reiterated a "sector perform" rating, and the stock has garnered a consensus rating of "Moderate Buy."
• The company recently increased its dividend, issuing $0.0364 per share, which reflects a yield of 295.0%, while also reporting a missed earnings per share estimate for the last quarter.

Shares of Paramount Resources Ltd. (OTCMKTS:PRMRF - Get Free Report) traded down 0.4% during mid-day trading on Thursday . The stock traded as low as $16.16 and last traded at $16.18. 2,553 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 20,720 shares. The stock had previously closed at $16.25.

Analysts Set New Price Targets

A number of brokerages have weighed in on PRMRF. Royal Bank Of Canada reiterated a "sector perform" rating on shares of Paramount Resources in a report on Tuesday, September 23rd. National Bankshares reaffirmed a "sector perform" rating on shares of Paramount Resources in a research note on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy".

Paramount Resources Price Performance

The company's fifty day simple moving average is $15.07 and its two-hundred day simple moving average is $14.17. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of 2.31 and a beta of 1.31.

Paramount Resources (OTCMKTS:PRMRF - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.10). Paramount Resources had a return on equity of 6.89% and a net margin of 111.48%.The business had revenue of $93.43 million for the quarter, compared to analyst estimates of $131.00 million. On average, analysts forecast that Paramount Resources Ltd. will post 1.74 earnings per share for the current year.

Paramount Resources Increases Dividend

The firm also recently disclosed a dividend, which was paid on Monday, September 29th. Shareholders of record on Tuesday, September 16th were issued a dividend of $0.0364 per share. The ex-dividend date was Monday, September 15th. This is a positive change from Paramount Resources's previous dividend of $0.04. This represents a yield of 295.0%. Paramount Resources's dividend payout ratio is currently 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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