Paramount Resources (OTCMKTS:PRMRF) Share Price Passes Below 50-Day Moving Average - Time to Sell?

Paramount Resources Ltd. (OTCMKTS:PRMRF - Get Free Report) shares passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $19.64 and traded as low as $19.14. Paramount Resources shares last traded at $19.23, with a volume of 22,092 shares trading hands.

Wall Street Analysts Forecast Growth

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

Paramount Resources Stock Up 1.0 %

The stock has a market cap of $2.85 billion, a P/E ratio of 11.43 and a beta of 2.54. The business has a 50 day moving average price of $19.64 and a 200 day moving average price of $21.42.

Paramount Resources (OTCMKTS:PRMRF - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.42 earnings per share (EPS) for the quarter. Paramount Resources had a return on equity of 9.90% and a net margin of 19.56%. The company had revenue of $324.22 million for the quarter. On average, research analysts expect that Paramount Resources Ltd. will post 1.8 earnings per share for the current fiscal year.

Paramount Resources Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, October 31st. Investors of record on Wednesday, October 16th will be paid a $0.111 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a yield of 6.63%. Paramount Resources's dividend payout ratio (DPR) is currently 78.24%.

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.