Paramount Resources (OTCMKTS:PRMRF) Stock Price Down 6.3% – Time to Sell?

Paramount Resources Ltd. (OTCMKTS:PRMRF) dropped 6.3% during trading on Monday . The stock traded as low as $20.10 and last traded at $20.10. Approximately 754 shares traded hands during mid-day trading, a decline of 95% from the average daily volume of 15,532 shares. The stock had previously closed at $21.44.

Wall Street Analyst Weigh In

PRMRF has been the subject of several recent analyst reports. Roth Mkm upgraded shares of Paramount Resources to a “strong-buy” rating in a research note on Wednesday, March 4th. ATB Cormark Capital Markets cut shares of Paramount Resources from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, March 3rd. Zacks Research upgraded shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Paramount Resources in a research note on Wednesday, May 13th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Paramount Resources in a research note on Wednesday, May 13th. Two equities research 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 stock. Based on data from MarketBeat.com, Paramount Resources has an average rating of “Buy”.

Paramount Resources Price Performance

The company has a market cap of $2.97 billion, a price-to-earnings ratio of 78.59 and a beta of 0.62. The business’s 50-day simple moving average is $21.63 and its 200-day simple moving average is $19.81.

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 analysts’ consensus estimates of $0.20 by $0.06. The company had revenue of $164.35 million during the quarter, compared to analysts’ expectations of $119.34 million. Paramount Resources had a net margin of 6.65% and a return on equity of 1.98%. As a group, sell-side analysts forecast that Paramount Resources Ltd. will post 1.06 EPS for the current 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.