Paramount Resources (OTCMKTS:PRMRF) Hits New 12-Month Low – Here’s What Happened

Paramount Resources Ltd. (OTCMKTS:PRMRF) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $11.82 and last traded at $12.75, with a volume of 1269472 shares trading hands. The stock had previously closed at $22.41.

Wall Street Analyst Weigh In

Separately, Cormark upgraded Paramount Resources from a “hold” rating to a “moderate buy” rating in a report on Friday, November 15th.

Paramount Resources Price Performance

The firm has a fifty day moving average of $21.39 and a two-hundred day moving average of $20.60. The stock has a market capitalization of $1.89 billion, a P/E ratio of 7.16 and a beta of 2.49. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.62 and a quick ratio of 0.62.

Paramount Resources Cuts Dividend

The firm also recently declared a dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 21st will be given a $0.0343 dividend. The ex-dividend date is Thursday, February 20th. This represents a dividend yield of 1.84%. Paramount Resources’s payout ratio is presently 70.23%.

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.