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

Paramount Resources Ltd. (OTCMKTS:PRMRF)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $18.29, but opened at $17.6501. Paramount Resources shares last traded at $18.5975, with a volume of 1,668 shares traded.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. CIBC reiterated an “outperform” rating on shares of Paramount Resources in a research note on Wednesday, November 5th. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Paramount Resources in a research note on Tuesday, September 23rd. Finally, National Bankshares reaffirmed a “sector perform” rating on shares of Paramount Resources in a research report on Thursday, September 25th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Paramount Resources Stock Performance

The firm’s 50 day simple moving average is $16.63 and its 200 day simple moving average is $15.66. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of 2.92 and a beta of 0.81.

Paramount Resources (OTCMKTS:PRMRF) last released its quarterly earnings data on Tuesday, November 4th. The company reported ($0.01) earnings per share 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 business had revenue of $103.54 million during the quarter, compared to analyst estimates of $136.00 million. As a group, sell-side analysts forecast that Paramount Resources Ltd. will post 1.74 earnings per share for the current year.

Paramount Resources Cuts Dividend

The business also recently disclosed a dividend, which was paid on Friday, October 31st. Shareholders of record on Thursday, October 16th were paid a dividend of $0.0359 per share. The ex-dividend date was Wednesday, October 15th. This represents a dividend yield of 262.0%. Paramount Resources’s dividend payout ratio (DPR) is presently 6.58%.

Paramount Resources Company Profile

Paramount Resources Ltd. explores for and develops conventional and unconventional petroleum and natural gas reserves and resources in Canada. The company holds interests in the Karr and Wapiti Montney properties covering an area of 109,000 net acres located south of the city of Grande Prairie, Alberta; Kaybob North Duvernay development and natural gas producing properties covering an area of 124,000 net acres located in west-central Alberta; and Willesden Green Duvernay development in central Alberta and shale gas producing properties in the Horn River Basin in northeast British Columbia covering an area of 249,000 net acres.