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

Shares of Paramount Resources Ltd. (OTCMKTS:PRMRF) gapped down prior to trading on Tuesday . The stock had previously closed at $17.49, but opened at $16.89. Paramount Resources shares last traded at $16.94, with a volume of 771 shares.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PRMRF. National Bankshares reaffirmed a “sector perform” rating on shares of Paramount Resources in a research report on Thursday, September 25th. CIBC restated an “outperform” rating on shares of Paramount Resources in a report on Wednesday, November 5th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Paramount Resources in a research report on Tuesday, September 23rd. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Paramount Resources presently has an average rating of “Hold”.

Paramount Resources Stock Down 0.6%

The firm has a market capitalization of $2.43 billion, a price-to-earnings ratio of 2.58 and a beta of 0.75. The stock has a 50 day moving average of $17.31 and a 200 day moving average of $16.12.

Paramount Resources (OTCMKTS:PRMRF) last released its earnings results on Tuesday, November 4th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.12). Paramount Resources had a return on equity of 4.42% and a net margin of 129.12%.The firm had revenue of $103.54 million for the quarter, compared to the consensus estimate of $136.00 million. Analysts predict that Paramount Resources Ltd. will post 1.74 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.