Paramount Resources (OTCMKTS:PRMRF) Upgraded at Cormark

Cormark upgraded shares of Paramount Resources (OTCMKTS:PRMRF) from a hold rating to a moderate buy rating in a report released on Friday,Zacks.com reports.

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

Paramount Resources Stock Performance

Shares of PRMRF stock traded down $0.20 during mid-day trading on Friday, hitting $22.03. The company’s stock had a trading volume of 105,654 shares, compared to its average volume of 40,512. The stock has a market cap of $3.24 billion, a price-to-earnings ratio of 12.38 and a beta of 2.56. Paramount Resources has a 52-week low of $18.00 and a 52-week high of $24.84. The business has a 50-day moving average price of $19.51 and a 200 day moving average price of $21.23.

Paramount Resources Cuts Dividend

The company also recently declared a dividend, which will be paid on Friday, November 29th. Stockholders of record on Monday, November 18th will be issued a dividend of $0.1078 per share. The ex-dividend date is Friday, November 15th. This represents a dividend yield of 6.65%. Paramount Resources’s payout ratio is 74.72%.

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.