Paramount Resources (OTCMKTS:PRMRF) Rating Increased to Moderate Buy at Cormark

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

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

Paramount Resources Stock Up 0.4 %

Shares of OTCMKTS:PRMRF opened at $22.12 on Friday. The firm’s 50-day simple moving average is $19.51 and its 200-day simple moving average is $21.21. Paramount Resources has a fifty-two week low of $18.00 and a fifty-two week high of $24.84. The company has a market cap of $3.25 billion, a price-to-earnings ratio of 12.38 and a beta of 2.56.

Paramount Resources Cuts Dividend

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

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.