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

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Roth Mkm upgraded shares of Paramount Resources to a “strong-buy” rating in a report on Wednesday, March 4th. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Paramount Resources in a 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. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Paramount Resources in a report on Wednesday, May 13th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Buy”.

Paramount Resources Trading Down 3.0%

The firm has a market capitalization of $2.97 billion, a PE ratio of 78.59 and a beta of 0.62. The firm has a 50-day moving average of $21.63 and a two-hundred day moving average of $19.81.

Paramount Resources (OTCMKTS:PRMRF) last released its quarterly earnings data 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. Paramount Resources had a net margin of 6.65% and a return on equity of 1.98%. The company had revenue of $164.35 million during the quarter, compared to the consensus estimate of $119.34 million. Equities research analysts expect that Paramount Resources Ltd. will post 1.06 earnings per share for the current fiscal year.

About Paramount Resources

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.