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

Paramount Resources Ltd. (OTCMKTS:PRMRF)’s share price gapped down prior to trading on Monday . The stock had previously closed at $22.63, but opened at $21.37. Paramount Resources shares last traded at $21.7741, with a volume of 715 shares trading hands.

Analysts Set New Price Targets

Several brokerages have recently commented on PRMRF. Zacks Research raised Paramount Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. ATB Cormark Capital Markets lowered Paramount Resources from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, March 3rd. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Paramount Resources in a research note on Wednesday, May 13th. Jefferies Financial Group reiterated a “buy” rating on shares of Paramount Resources in a report on Tuesday, May 12th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating on shares of Paramount Resources in a report on Wednesday, May 13th. Two research 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 company. According to MarketBeat, the stock currently has a consensus rating of “Buy”.

Paramount Resources Price Performance

The company has a current ratio of 3.77, a quick ratio of 3.77 and a debt-to-equity ratio of 0.10. The stock has a market cap of $3.22 billion, a PE ratio of 85.09 and a beta of 0.62. The company has a fifty day moving average of $21.59 and a 200-day moving average of $19.66.

Paramount Resources (OTCMKTS:PRMRF) last posted its quarterly earnings data on Tuesday, May 12th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.06. The firm had revenue of $164.35 million for 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 expect that Paramount Resources Ltd. will post 1.06 EPS 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.