Paramount Resources (OTCMKTS:PRMRF) Share Price Crosses Below Fifty Day Moving Average of $20.18

Paramount Resources Ltd. (OTCMKTS:PRMRF)’s stock price crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $20.18 and traded as low as $19.07. Paramount Resources shares last traded at $19.15, with a volume of 558,333 shares trading hands.

Paramount Resources Stock Performance

The stock has a market cap of $2.79 billion, a P/E ratio of 11.14 and a beta of 2.55. The business has a 50 day simple moving average of $20.10 and a 200-day simple moving average of $21.50.

Paramount Resources (OTCMKTS:PRMRF) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.42 earnings per share for the quarter. The company had revenue of $324.22 million during the quarter. Paramount Resources had a net margin of 19.56% and a return on equity of 9.90%.

Paramount Resources Increases Dividend

The business also recently declared a dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 17th will be paid a dividend of $0.1112 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a dividend yield of 7.05%. This is a positive change from Paramount Resources’s previous dividend of $0.11. Paramount Resources’s dividend payout ratio (DPR) is presently 78.24%.

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.