Paramount Resources (OTCMKTS:PRMRF) Shares Gap Down – Here’s Why

Shares of Paramount Resources Ltd. (OTCMKTS:PRMRF) gapped down before the market opened on Wednesday . The stock had previously closed at $23.9420, but opened at $22.42. Paramount Resources shares last traded at $22.45, with a volume of 1,725 shares traded.

Wall Street Analyst Weigh In

PRMRF has been the topic of a number of research reports. Zacks Research raised shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Roth Mkm upgraded Paramount Resources to a “strong-buy” rating in a report on Wednesday, March 4th. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Paramount Resources in a report on Wednesday, May 13th. Jefferies Financial Group reiterated a “buy” rating on shares of Paramount Resources in a report on Tuesday, May 12th. Finally, ATB Cormark Capital Markets cut Paramount Resources from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, March 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy”.

Paramount Resources Price Performance

The stock’s 50-day moving average price is $21.52 and its 200 day moving average price is $19.43. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of 85.35 and a beta of 0.64. The company has a quick ratio of 3.77, a current ratio of 3.77 and a debt-to-equity ratio of 0.10.

Paramount Resources (OTCMKTS:PRMRF) last issued its earnings results on Tuesday, May 12th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06. The business had revenue of $164.35 million during the quarter, compared to analysts’ expectations of $119.34 million. Paramount Resources had a net margin of 6.65% and a return on equity of 2.00%. Equities research analysts expect that Paramount Resources Ltd. will post 1.06 earnings per share for the current fiscal year.

Paramount Resources Company Profile

Paramount Resources Ltd. is a Calgary, Alberta–based energy company engaged in the exploration, development and production of conventional and unconventional oil and natural gas resources. The company’s operations span acquisition of acreage, drilling and completion activities, reservoir optimization and production marketing, with a focus on upstream activities. Paramount also holds a portfolio of royalty interests that generate recurring cash flows from production by third parties.

Paramount’s core operating regions are located within the Western Canadian Sedimentary Basin, primarily in Alberta and northeastern British Columbia.