Paramount Resources (OTCMKTS:PRMRF) Upgraded at Cormark

Cormark upgraded shares of Paramount Resources (OTCMKTS:PRMRF) from a hold rating to a moderate buy rating in a research report report published on Friday,Zacks.com reports.

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

Paramount Resources Stock Performance

Shares of PRMRF stock opened at $22.03 on Friday. The company has a market capitalization of $3.24 billion, a price-to-earnings ratio of 12.38 and a beta of 2.56. Paramount Resources has a 52-week low of $18.00 and a 52-week high of $24.84. The company has a 50-day simple moving average of $19.51 and a two-hundred day simple moving average of $21.22.

Paramount Resources Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Friday, November 29th. Investors of record on Monday, November 18th will be paid a $0.1078 dividend. This represents a yield of 6.65%. The ex-dividend date is Friday, November 15th. Paramount Resources’s dividend payout ratio is currently 74.72%.

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.