Paramount Resources Ltd. (OTCMKTS:PRMRF) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Paramount Resources Ltd. (OTCMKTS:PRMRF) have received an average rating of “Hold” from the four analysts that are currently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company.

A number of brokerages have issued reports on PRMRF. National Bankshares restated a “sector perform” rating on shares of Paramount Resources in a research note on Thursday, September 25th. CIBC restated an “outperform” rating on shares of Paramount Resources in a research note on Wednesday. Finally, Royal Bank Of Canada restated a “sector perform” rating on shares of Paramount Resources in a research note on Tuesday, September 23rd.

Paramount Resources Stock Up 1.4%

Shares of OTCMKTS PRMRF traded up $0.22 during trading hours on Wednesday, hitting $16.41. 8,704 shares of the stock were exchanged, compared to its average volume of 48,133. The company has a market cap of $2.36 billion, a PE ratio of 2.34 and a beta of 1.31. The firm has a fifty day moving average price of $15.68 and a 200-day moving average price of $14.89. Paramount Resources has a 12 month low of $9.89 and a 12 month high of $22.95.

Paramount Resources (OTCMKTS:PRMRF) last issued its quarterly earnings results on Tuesday, November 4th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.12). Paramount Resources had a net margin of 111.48% and a return on equity of 7.24%. The company had revenue of $103.54 million for the quarter, compared to analyst estimates of $136.00 million. As a group, equities analysts anticipate that Paramount Resources will post 1.74 earnings per share for the current fiscal year.

Paramount Resources Cuts Dividend

The business also recently declared a dividend, which was paid on Friday, October 31st. Shareholders of record on Thursday, October 16th were paid a dividend of $0.0359 per share. The ex-dividend date was Wednesday, October 15th. This represents a yield of 262.0%. Paramount Resources’s dividend payout ratio is presently 6.13%.

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.