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

Shares of Paramount Resources Ltd. (OTCMKTS:PRMRF) gapped down before the market opened on Thursday . The stock had previously closed at $19.8860, but opened at $19.10. Paramount Resources shares last traded at $19.22, with a volume of 1,215 shares trading hands.

Analyst Ratings Changes

A number of brokerages have issued reports on PRMRF. Jefferies Financial Group reissued a “buy” rating on shares of Paramount Resources in a report on Tuesday, May 12th. Zacks Research upgraded Paramount Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Paramount Resources in a research report on Wednesday, May 13th. Roth Mkm upgraded shares of Paramount Resources to a “strong-buy” rating in a research note on Wednesday, March 4th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Paramount Resources in a research note on Wednesday, May 13th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Paramount Resources presently has a consensus rating of “Buy”.

Paramount Resources Stock Performance

The firm has a 50-day moving average of $21.58 and a 200-day moving average of $19.95. The firm has a market capitalization of $2.82 billion, a P/E ratio of 74.52 and a beta of 0.62.

Paramount Resources (OTCMKTS:PRMRF) last posted its earnings results on Tuesday, May 12th. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.06. Paramount Resources had a return on equity of 1.98% and a net margin of 6.65%.The business had revenue of $164.34 million during the quarter, compared to analyst estimates of $119.34 million. On average, research analysts forecast that Paramount Resources Ltd. will post 1.06 EPS 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.