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

Paramount Resources Ltd. (OTCMKTS:PRMRF)’s stock price gapped down before the market opened 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 changing hands.

Analyst Ratings Changes

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

Paramount Resources Price Performance

The stock has a market cap of $3.43 billion, a PE ratio of 41.25 and a beta of 0.67. The company’s fifty day moving average is $21.97 and its 200-day moving average is $21.46.

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

Paramount Resources Company Profile

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.