Paramount Resources (OTCMKTS:PRMRF) Shares Cross Below 50-Day Moving Average – Time to Sell?

Paramount Resources Ltd. (OTCMKTS:PRMRF)’s share price passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $19.64 and traded as low as $19.14. Paramount Resources shares last traded at $19.23, with a volume of 22,092 shares changing hands.

Wall Street Analyst Weigh In

Separately, Cibc World Mkts raised Paramount Resources from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th.

Paramount Resources Stock Performance

The firm has a market capitalization of $2.82 billion, a PE ratio of 11.31 and a beta of 2.54. The business’s fifty day simple moving average is $19.64 and its 200-day simple moving average is $21.42.

Paramount Resources (OTCMKTS:PRMRF) last issued its earnings results on Thursday, August 1st. The company reported $0.42 earnings per share 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%. Sell-side analysts expect that Paramount Resources Ltd. will post 1.8 earnings per share for the current fiscal year.

Paramount Resources Cuts Dividend

The company also recently announced a dividend, which will be paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th will be issued a $0.111 dividend. The ex-dividend date is Tuesday, October 15th. This represents a dividend yield of 6.63%. Paramount Resources’s dividend payout ratio (DPR) is 78.24%.

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.