Paramount Resources (OTCMKTS:PRMRF) Shares Down 5.9% – Time to Sell?

Paramount Resources Ltd. (OTCMKTS:PRMRF) traded down 5.9% during mid-day trading on Monday . The stock traded as low as $22.30 and last traded at $22.30. 772 shares traded hands during trading, a decline of 100% from the average session volume of 195,883 shares. The stock had previously closed at $23.69.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PRMRF shares. Raymond James Financial reiterated an “outperform” rating on shares of Paramount Resources in a report on Wednesday. Zacks Research cut Paramount Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Scotiabank reaffirmed a “sector perform” rating on shares of Paramount Resources in a research note on Friday, August 7th. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Paramount Resources in a research report on Friday, August 7th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Paramount Resources in a research note on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Paramount Resources presently has an average rating of “Moderate Buy”.

Paramount Resources Stock Down 3.0%

The company has a market capitalization of $3.25 billion, a PE ratio of 39.07 and a beta of 0.67. The stock’s fifty day moving average price is $22.11 and its two-hundred day moving average price is $21.51.

Paramount Resources (OTCMKTS:PRMRF) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.05. Paramount Resources had a return on equity of 4.31% and a net margin of 12.52%.The business had revenue of $183.53 million during the quarter, compared to analyst estimates of $151.36 million. On average, equities research analysts forecast 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.