Paramount Resources (OTCMKTS:PRMRF) Upgraded at Cibc World Mkts

Cibc World Mkts upgraded shares of Paramount Resources (OTCMKTS:PRMRF) from a hold rating to a strong-buy rating in a research report sent to investors on Thursday, Zacks.com reports.

Paramount Resources Trading Up 0.5 %

Shares of OTCMKTS:PRMRF opened at $19.32 on Thursday. Paramount Resources has a 1-year low of $18.00 and a 1-year high of $24.95. The stock has a market capitalization of $2.84 billion, a P/E ratio of 11.04 and a beta of 2.54. The business has a 50-day moving average price of $19.82 and a two-hundred day moving average price of $21.51.

Paramount Resources (OTCMKTS:PRMRF) last released its earnings results on Thursday, August 1st. The company reported $0.42 EPS for the quarter. The firm had revenue of $324.22 million during the quarter. Paramount Resources had a net margin of 19.56% and a return on equity of 9.90%. As a group, equities analysts predict that Paramount Resources will post 1.8 EPS for the current year.

Paramount Resources Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, October 31st. Investors of record on Wednesday, October 16th will be paid a dividend of $0.111 per share. This represents a yield of 6.63%. The ex-dividend date is Tuesday, October 15th. Paramount Resources’s payout ratio is presently 76.00%.

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.