Paramount Resources (OTCMKTS:PRMRF) Upgraded to “Moderate Buy” at Raymond James

Raymond James upgraded shares of Paramount Resources (OTCMKTS:PRMRF) to a moderate buy rating in a research report report published on Monday,Zacks.com reports.

Separately, National Bank Financial cut shares of Paramount Resources from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $37.00.

Paramount Resources Price Performance

Shares of OTCMKTS:PRMRF opened at $10.63 on Monday. The stock has a fifty day moving average of $14.42 and a 200-day moving average of $18.53. The company has a market capitalization of $1.52 billion, a PE ratio of 5.97 and a beta of 1.88. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.62 and a current ratio of 0.62. Paramount Resources has a one year low of $9.89 and a one year high of $24.84.

Paramount Resources Increases Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 16th will be paid a $0.0349 dividend. This represents a yield of 3.98%. The ex-dividend date of this dividend is Tuesday, April 15th. 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.