Paramount Resources Ltd. (OTCMKTS:PRMRF) Plans Dividend Increase – $0.08 Per Share

Paramount Resources Ltd. (OTCMKTS:PRMRF – Get Rating) declared a dividend on Friday, May 13th, investing.com reports. Investors of record on Monday, May 16th will be given a dividend of 0.0779 per share on Tuesday, May 31st. This represents a yield of 3.91%. The ex-dividend date of this dividend is Friday, May 13th. This is a boost from Paramount Resources’s previous dividend of $0.06.

Paramount Resources stock opened at $25.29 on Friday. The business’s 50-day simple moving average is $24.12 and its 200 day simple moving average is $20.90. The stock has a market cap of $3.58 billion, a price-to-earnings ratio of 14.42 and a beta of 3.14. Paramount Resources has a 12-month low of $9.03 and a 12-month high of $28.16. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.15.

Paramount Resources (OTCMKTS:PRMRF – Get Rating) last posted its quarterly earnings results on Wednesday, March 2nd. The company reported $0.71 earnings per share (EPS) for the quarter. The business had revenue of $344.55 million for the quarter. Paramount Resources had a return on equity of 12.99% and a net margin of 21.12%.

Several research firms have weighed in on PRMRF. Royal Bank of Canada increased their target price on Paramount Resources from C$30.00 to C$33.00 in a research note on Thursday, March 3rd. BMO Capital Markets increased their target price on Paramount Resources from C$40.00 to C$45.00 in a research note on Thursday, May 5th. National Bank Financial increased their target price on Paramount Resources from C$35.00 to C$45.00 in a research note on Thursday, April 14th. CIBC increased their target price on Paramount Resources from C$35.00 to C$36.00 in a research note on Thursday, April 14th. Finally, Raymond James increased their target price on Paramount Resources from C$30.00 to C$33.00 in a research note on Thursday, March 3rd. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Paramount Resources has an average rating of “Buy” and an average target price of $37.56.

Paramount Resources Company Profile (Get Rating)

Paramount Resources Ltd., an independent energy company, explores for, develops, produces, and markets natural gas, crude oil, and natural gas liquids in Canada. The company's principal properties are the Montney and Duvernay developments located in Alberta and British Columbia. It also invests in public and private corporations.

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