Paramount Resources Ltd. (OTCMKTS:PRMRF) Raises Dividend to $2.08 Per Share

Paramount Resources Ltd. (OTCMKTS:PRMRF - Get Free Report) declared a dividend on Monday, February 3rd,investing.com reports. Shareholders of record on Tuesday, February 11th will be paid a dividend of 2.0818 per share on Friday, February 14th. This represents a yield of 126.23%. The ex-dividend date is Monday, February 10th. This is a positive change from Paramount Resources's previous dividend of $0.10.

Paramount Resources Stock Performance

Shares of OTCMKTS:PRMRF traded up $0.20 during trading on Thursday, hitting $21.95. The company's stock had a trading volume of 62,410 shares, compared to its average volume of 67,965. The company has a 50-day moving average of $21.32 and a 200-day moving average of $20.55. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.62 and a quick ratio of 0.62. The firm has a market cap of $3.23 billion, a price-to-earnings ratio of 12.33 and a beta of 2.50. Paramount Resources has a 12 month low of $18.00 and a 12 month high of $24.84.

Paramount Resources (OTCMKTS:PRMRF - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.19). The business had revenue of $321.08 million during the quarter, compared to the consensus estimate of $337.69 million. Paramount Resources had a return on equity of 10.04% and a net margin of 19.96%. On average, sell-side analysts expect that Paramount Resources will post 1.78 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on PRMRF. Cibc World Mkts raised Paramount Resources from a "hold" rating to a "strong-buy" rating in a research report on Thursday, October 17th. Cormark upgraded shares of Paramount Resources from a "hold" rating to a "moderate buy" rating in a research report on Friday, November 15th.

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.