Paramount Resources (OTCMKTS:PRMRF) Shares Up 2.8% - Still a Buy?

Shares of Paramount Resources Ltd. (OTCMKTS:PRMRF - Get Free Report) rose 2.8% on Tuesday . The stock traded as high as $14.64 and last traded at $14.61. Approximately 9,399 shares changed hands during trading, a decline of 88% from the average daily volume of 77,437 shares. The stock had previously closed at $14.21.

Analyst Ratings Changes

PRMRF has been the topic of several recent analyst reports. National Bank Financial lowered Paramount Resources from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 18th. Royal Bank of Canada reiterated a "sector perform" rating on shares of Paramount Resources in a report on Wednesday, May 14th. Finally, Raymond James upgraded Paramount Resources to a "moderate buy" rating in a report on Monday, April 7th. Two analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy".

Paramount Resources Trading Up 0.9%

The company has a market capitalization of $2.08 billion, a P/E ratio of 8.16 and a beta of 1.48. The business has a fifty day moving average price of $12.49 and a 200 day moving average price of $16.36. 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 (OTCMKTS:PRMRF - Get Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The company reported $0.20 EPS for the quarter, missing analysts' consensus estimates of $0.29 by ($0.09). The firm had revenue of $185.24 million during the quarter, compared to the consensus estimate of $198.00 million. Paramount Resources had a net margin of 19.96% and a return on equity of 10.04%. On average, analysts expect that Paramount Resources Ltd. will post 1.74 earnings per share for the current fiscal year.

Paramount Resources Increases Dividend

The company also recently announced a dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were given a $0.0362 dividend. This is an increase from Paramount Resources's previous dividend of $0.03. The ex-dividend date was Thursday, May 15th. This represents a dividend yield of 3.56%. Paramount Resources's dividend payout ratio is presently 5.53%.

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.