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

Paramount Resources Ltd. (OTCMKTS:PRMRF) shares gapped down before the market opened 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.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Jefferies Financial Group reissued a “buy” rating on shares of Paramount Resources in a research note on Tuesday, May 12th. ATB Cormark Capital Markets cut Paramount Resources from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, March 3rd. Roth Mkm raised Paramount Resources to a “strong-buy” rating in a research note on Wednesday, March 4th. Zacks Research raised Paramount Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Finally, Royal Bank Of Canada reissued 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 assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Paramount Resources Price Performance

The company has a market capitalization of $3.22 billion, a PE ratio of 85.09 and a beta of 0.62. 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 fifty day simple moving average of $21.59 and a 200-day simple moving average of $19.66.

Paramount Resources (OTCMKTS:PRMRF) last announced its quarterly earnings results on Tuesday, May 12th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.06. The company 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%. Equities analysts anticipate that Paramount Resources Ltd. will post 1.06 earnings per share for the current 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.