Paramount Resources (OTCMKTS:PRMRF) Shares Gap Down – Here’s What Happened
by Kim Johansen · The Markets DailyParamount Resources Ltd. (OTCMKTS:PRMRF – Get Free Report) shares gapped down prior to trading on Wednesday . The stock had previously closed at $21.4090, but opened at $20.59. Paramount Resources shares last traded at $20.3750, with a volume of 405 shares trading hands.
Wall Street Analyst Weigh In
PRMRF has been the subject of several research analyst reports. Raymond James Financial raised Paramount Resources from a “hold” rating to a “moderate buy” rating in a research note on Thursday, January 15th. Zacks Research raised Paramount Resources to a “hold” rating in a report on Thursday, March 5th. ATB Cormark Capital Markets downgraded Paramount Resources from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, March 3rd. Scotiabank reiterated an “outperform” rating on shares of Paramount Resources in a research report on Wednesday, January 21st. Finally, Roth Mkm upgraded shares of Paramount Resources to a “strong-buy” rating in a report on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.
View Our Latest Research Report on PRMRF
Paramount Resources Stock Performance
The company has a market cap of $2.92 billion, a P/E ratio of 3.32 and a beta of 0.70. The business has a 50 day moving average price of $19.92 and a two-hundred day moving average price of $17.88.
Paramount Resources (OTCMKTS:PRMRF – Get Free Report) last announced its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.17). Paramount Resources had a return on equity of 1.54% and a net margin of 149.02%.The company had revenue of $144.55 million during the quarter, compared to analysts’ expectations of $137.63 million. As a group, research analysts expect that Paramount Resources Ltd. will post 1.74 EPS 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.