Paramount Resources (OTCMKTS:PRMRF) Shares Gap Down – Time to Sell?

Shares of Paramount Resources Ltd. (OTCMKTS:PRMRF) gapped down prior to trading on Monday . The stock had previously closed at $22.63, but opened at $21.37. Paramount Resources shares last traded at $21.7741, with a volume of 715 shares.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PRMRF shares. Royal Bank Of Canada restated a “sector perform” rating on shares of Paramount Resources in a research note on Wednesday, May 13th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Paramount Resources in a report on Wednesday, May 13th. Roth Mkm raised shares of Paramount Resources to a “strong-buy” rating in a report on Wednesday, March 4th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Paramount Resources in a report on Tuesday, May 12th. Finally, Zacks Research raised shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy”.

Paramount Resources Stock Performance

The firm has a market capitalization of $3.10 billion, a PE ratio of 81.93 and a beta of 0.62. The company has a current ratio of 3.77, a quick ratio of 3.77 and a debt-to-equity ratio of 0.10. The business’s 50 day simple moving average is $21.59 and its two-hundred day simple moving average is $19.72.

Paramount Resources (OTCMKTS:PRMRF) last announced its earnings results on Tuesday, May 12th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.06. The business had revenue of $164.35 million for the quarter, compared to analysts’ expectations of $119.34 million. Paramount Resources had a return on equity of 2.00% and a net margin of 6.65%. Research analysts expect that Paramount Resources Ltd. will post 1.06 earnings per share 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.