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

Shares of Paramount Resources Ltd. (OTCMKTS:PRMRF) gapped down before the market opened on Tuesday . The stock had previously closed at $16.00, but opened at $15.04. Paramount Resources shares last traded at $15.92, with a volume of 3,442 shares trading hands.

Analysts Set New Price Targets

A number of research firms recently commented on PRMRF. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Paramount Resources in a research note on Wednesday, May 14th. Raymond James Financial raised Paramount Resources to a “moderate buy” rating in a research report on Monday, April 7th. Two analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Paramount Resources currently has an average rating of “Moderate Buy”.

Paramount Resources Stock Up 0.1%

The stock has a market capitalization of $2.30 billion, a PE ratio of 2.16 and a beta of 1.59. The stock’s 50-day moving average is $13.49 and its 200 day moving average is $15.81.

Paramount Resources (OTCMKTS:PRMRF) last posted its quarterly earnings results on Tuesday, May 13th. The company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.09). The company had revenue of $185.24 million during the quarter, compared to analyst estimates of $198.00 million. Paramount Resources had a return on equity of 9.08% and a net margin of 94.21%. As a group, equities research analysts forecast that Paramount Resources Ltd. will post 1.74 EPS for the current year.

Paramount Resources Increases Dividend

The firm also recently declared a dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th will be paid a dividend of $0.05 per share. This is a positive change from Paramount Resources’s previous dividend of $0.04. The ex-dividend date of this dividend is Monday, June 16th. This represents a dividend yield of 3.72%. Paramount Resources’s dividend payout ratio is 5.94%.

About Paramount Resources

Paramount Resources Ltd. explores for and develops conventional and unconventional petroleum and natural gas reserves and resources in Canada. The company holds interests in the Karr and Wapiti Montney properties covering an area of 109,000 net acres located south of the city of Grande Prairie, Alberta; Kaybob North Duvernay development and natural gas producing properties covering an area of 124,000 net acres located in west-central Alberta; and Willesden Green Duvernay development in central Alberta and shale gas producing properties in the Horn River Basin in northeast British Columbia covering an area of 249,000 net acres.