Paramount Resources (OTCMKTS:PRMRF) Cut to Hold at National Bank Financial

National Bank Financial cut shares of Paramount Resources (OTCMKTS:PRMRF - Free Report) from a strong-buy rating to a hold rating in a research report sent to investors on Tuesday,Zacks.com reports.

Separately, Cormark raised shares of Paramount Resources from a "hold" rating to a "moderate buy" rating in a research report on Friday, November 15th.

Paramount Resources Stock Performance

PRMRF stock traded down $0.37 during midday trading on Tuesday, hitting $12.40. The company's stock had a trading volume of 60,283 shares, compared to its average volume of 156,967. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of 6.97 and a beta of 2.49. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.01. The stock's 50-day moving average price is $20.86 and its 200 day moving average price is $20.44. Paramount Resources has a 1 year low of $11.82 and a 1 year high of $24.84.

Paramount Resources Cuts Dividend

The company also recently announced a dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 21st will be paid a $0.0343 dividend. The ex-dividend date is Thursday, February 20th. This represents a dividend yield of 1.84%. Paramount Resources's payout ratio is presently 23.03%.

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.