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

Paramount Resources Ltd. (OTCMKTS:PRMRF) gapped down prior to trading 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 traded.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Jefferies Financial Group reiterated a “buy” rating on shares of Paramount Resources in a research report on Tuesday, May 12th. Zacks Research upgraded shares of 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 raised Paramount Resources to a “strong-buy” rating in a research report 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 investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Paramount Resources currently has a consensus rating of “Buy”.

Paramount Resources Stock Performance

The stock’s 50-day moving average price is $21.58 and its two-hundred day moving average price is $19.95. The stock has a market capitalization of $2.82 billion, a PE ratio of 74.52 and a beta of 0.62.

Paramount Resources (OTCMKTS:PRMRF) last issued its quarterly earnings results on Tuesday, May 12th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06. The company had revenue of $164.34 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%. On average, analysts predict 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.