Paramount Resources (OTCMKTS:PRMRF) Shares Pass Below 50 Day Moving Average – Should You Sell?

Paramount Resources Ltd. (OTCMKTS:PRMRF) crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $16.26 and traded as low as $12.47. Paramount Resources shares last traded at $12.69, with a volume of 28,870 shares traded.

Wall Street Analyst Weigh In

Separately, National Bank Financial downgraded Paramount Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th.

Paramount Resources Price Performance

The company has a market cap of $1.81 billion, a PE ratio of 7.13 and a beta of 2.46. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.62 and a quick ratio of 0.62. The stock’s 50-day moving average is $16.26 and its 200 day moving average is $19.03.

Paramount Resources Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be issued a dividend of $0.0345 per share. This represents a dividend yield of 3.61%. The ex-dividend date of this dividend is Monday, March 17th. This is a positive change from Paramount Resources’s previous dividend of $0.03. Paramount Resources’s dividend payout ratio is currently 24.70%.

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.