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

Paramount Resources Ltd. (OTCMKTS:PRMRF)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $23.9420, but opened at $22.42. Paramount Resources shares last traded at $22.45, with a volume of 1,725 shares.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PRMRF. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Paramount Resources in a research report on Wednesday, May 13th. Zacks Research upgraded shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Jefferies Financial Group reiterated a “buy” rating on shares of Paramount Resources in a report on Tuesday, May 12th. Roth Mkm upgraded shares of Paramount Resources to a “strong-buy” rating in a report on Wednesday, March 4th. Finally, Royal Bank Of Canada reiterated a “sector perform” 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 given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy”.

Paramount Resources Price Performance

The stock has a market cap of $3.28 billion, a PE ratio of 86.64 and a beta of 0.64. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.77 and a quick ratio of 3.77. The business has a fifty day moving average of $21.49 and a 200 day moving average of $19.34.

Paramount Resources (OTCMKTS:PRMRF) last issued its quarterly earnings results on Tuesday, May 12th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06. The firm had revenue of $164.35 million during the quarter, compared to the consensus estimate of $119.34 million. Paramount Resources had a return on equity of 2.00% and a net margin of 6.65%. Sell-side analysts anticipate that Paramount Resources Ltd. will post 1.06 earnings per share 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.