Paramount Resources (OTCMKTS:PRMRF) Shares Gap Down – What’s Next?

Paramount Resources Ltd. (OTCMKTS:PRMRF) shares gapped down before the market opened on Monday . The stock had previously closed at $18.88, but opened at $17.41. Paramount Resources shares last traded at $18.3850, with a volume of 3,987 shares traded.

Analysts Set New Price Targets

PRMRF has been the subject of a number of analyst reports. CIBC restated an “outperform” rating on shares of Paramount Resources in a research report on Wednesday, November 5th. Scotiabank restated an “outperform” rating on shares of Paramount Resources in a research note on Wednesday, January 21st. Finally, Raymond James Financial upgraded Paramount Resources from a “hold” rating to a “moderate buy” rating in a research report on Thursday, January 15th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Paramount Resources Price Performance

The firm has a market capitalization of $2.68 billion, a P/E ratio of 29.09 and a beta of 0.80. The firm’s fifty day moving average price is $17.69 and its 200-day moving average price is $16.38.

Paramount Resources (OTCMKTS:PRMRF) last posted its quarterly earnings data on Tuesday, November 4th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.12). Paramount Resources had a return on equity of 4.42% and a net margin of 129.12%.The firm had revenue of $103.54 million during the quarter, compared to the consensus estimate of $136.00 million. Analysts expect that Paramount Resources Ltd. will post 1.74 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.