Paramount Resources (OTCMKTS:PRMRF) Shares Gap Down – Time to Sell?

Paramount Resources Ltd. (OTCMKTS:PRMRF) shares gapped down prior to trading on Thursday . The stock had previously closed at $23.81, but opened at $22.99. Paramount Resources shares last traded at $23.43, with a volume of 676 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PRMRF shares. Zacks Research downgraded Paramount Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. Scotiabank restated a “sector perform” rating on shares of Paramount Resources in a report on Friday, August 7th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Paramount Resources in a research note on Friday, July 10th. Raymond James Financial reaffirmed an “outperform” rating on shares of Paramount Resources in a research note on Wednesday. Finally, Royal Bank Of Canada reissued a “sector perform” rating on shares of Paramount Resources in a research report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Paramount Resources Trading Down 3.1%

The business’s 50-day moving average is $22.11 and its two-hundred day moving average is $21.50. The stock has a market capitalization of $3.35 billion, a PE ratio of 40.28 and a beta of 0.67.

Paramount Resources (OTCMKTS:PRMRF) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.28 by $0.05. The company had revenue of $183.53 million for the quarter, compared to analyst estimates of $151.36 million. Paramount Resources had a return on equity of 4.31% and a net margin of 12.52%. On average, analysts predict that Paramount Resources Ltd. will post 1.08 EPS for the current year.

About Paramount Resources

Paramount Resources Ltd. is a Canadian energy company engaged in the exploration, development and production of crude oil, condensate, natural gas and natural gas liquids. The company’s activities are focused on developing long-life, liquids-rich resource opportunities and related petroleum infrastructure.

Paramount’s operations are concentrated in Alberta, particularly in the Grande Prairie and Kaybob areas. Its asset base includes interests in several of Western Canada’s unconventional oil and natural gas plays, supported by drilling, completion, processing and transportation activities.

Headquartered in Calgary, Alberta, Paramount was founded in 1978 by Clayton Riddell and has grown into one of Canada’s notable publicly traded exploration and production companies.