Paramount Resources (OTCMKTS:PRMRF) Shares Gap Down – Should You Sell?

Paramount Resources Ltd. (OTCMKTS:PRMRF)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $21.0695, but opened at $20.2585. Paramount Resources shares last traded at $20.30, with a volume of 856 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PRMRF shares. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Paramount Resources in a report on Wednesday, May 13th. Jefferies Financial Group restated a “buy” rating on shares of Paramount Resources in a report on Tuesday, May 12th. ATB Cormark Capital Markets lowered Paramount Resources from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, March 3rd. Roth Mkm raised Paramount Resources to a “strong-buy” rating in a research report on Wednesday, March 4th. Finally, Zacks Research raised Paramount Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy”.

Paramount Resources Stock Down 0.8%

The stock has a market capitalization of $2.96 billion, a P/E ratio of 78.27 and a beta of 0.62. The business’s 50 day simple moving average is $21.63 and its two-hundred day simple moving average is $19.83.

Paramount Resources (OTCMKTS:PRMRF) last released its quarterly earnings data on Tuesday, May 12th. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06. The firm had revenue of $164.35 million for the quarter, compared to analyst estimates of $119.34 million. Paramount Resources had a net margin of 6.65% and a return on equity of 1.98%. Analysts predict that Paramount Resources Ltd. will post 1.06 earnings per share for the current year.

About Paramount Resources

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.