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

Paramount Resources Ltd. (OTCMKTS:PRMRF) gapped down prior to trading on Tuesday . The stock had previously closed at $17.49, but opened at $16.89. Paramount Resources shares last traded at $16.94, with a volume of 771 shares changing hands.

Analyst Ratings Changes

PRMRF has been the topic of a number of recent research reports. Royal Bank Of Canada reissued a “sector perform” rating on shares of Paramount Resources in a report on Tuesday, September 23rd. CIBC restated an “outperform” rating on shares of Paramount Resources in a research report on Wednesday, November 5th. Finally, National Bankshares reaffirmed a “sector perform” rating on shares of Paramount Resources in a research report on Thursday, September 25th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Paramount Resources Trading Down 0.6%

The firm has a market capitalization of $2.43 billion, a P/E ratio of 2.58 and a beta of 0.75. The business’s fifty day moving average is $17.31 and its 200 day moving average is $16.12.

Paramount Resources (OTCMKTS:PRMRF) last posted its quarterly earnings results on Tuesday, November 4th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.12). Paramount Resources had a return on equity of 4.42% and a net margin of 129.12%.The business had revenue of $103.54 million during the quarter, compared to analyst estimates of $136.00 million. As a group, sell-side analysts predict that Paramount Resources Ltd. will post 1.74 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.