Paramount Resources (OTCMKTS:PRMRF) Stock Crosses Below 50-Day Moving Average - Here's Why

Shares of Paramount Resources Ltd. (OTCMKTS:PRMRF - Get Free Report) passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $16.26 and traded as low as $12.47. Paramount Resources shares last traded at $12.69, with a volume of 28,870 shares changing hands.

Analysts Set New Price Targets

Separately, National Bank Financial lowered shares of Paramount Resources from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 18th.

Paramount Resources Trading Down 1.7 %

The company's 50 day simple moving average is $15.78 and its two-hundred day simple moving average is $18.91. 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 company has a market cap of $1.83 billion, a PE ratio of 7.18 and a beta of 2.46.

Paramount Resources Increases Dividend

The company also recently announced a dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be given a $0.0345 dividend. This is a positive change from Paramount Resources's previous dividend of $0.03. The ex-dividend date is Monday, March 17th. This represents a yield of 3.61%. Paramount Resources's payout ratio is presently 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.