Paramount Resources Ltd. (OTCMKTS:PRMRF) Plans Dividend Increase – $0.03 Per Share

Paramount Resources Ltd. (OTCMKTS:PRMRF) declared a dividend on Saturday, March 15th, investing.com reports. Investors of record on Tuesday, March 18th will be paid a dividend of 0.0345 per share on Monday, March 31st. This represents a yield of 3.61%. The ex-dividend date of this dividend is Monday, March 17th. This is a 0.5% increase from Paramount Resources’s previous dividend of $0.03.

Paramount Resources Trading Up 1.8 %

Shares of PRMRF opened at $11.46 on Friday. Paramount Resources has a 12-month low of $9.89 and a 12-month high of $24.84. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of 6.44 and a beta of 2.46. The stock’s 50-day moving average price is $17.64 and its 200 day moving average price is $19.44.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PRMRF. Cormark upgraded Paramount Resources from a “hold” rating to a “moderate buy” rating in a research note on Friday, November 15th. National Bank Financial lowered Paramount Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th.

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.