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

Paramount Resources Ltd. (OTCMKTS:PRMRF) gapped down prior to trading on Thursday . The stock had previously closed at $18.29, but opened at $17.6501. Paramount Resources shares last traded at $18.5975, with a volume of 1,668 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PRMRF. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Paramount Resources in a report on Tuesday, September 23rd. CIBC reissued an “outperform” rating on shares of Paramount Resources in a report on Wednesday, November 5th. Finally, National Bankshares reaffirmed a “sector perform” rating on shares of Paramount Resources in a report on Thursday, September 25th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Paramount Resources Price Performance

The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of 2.86 and a beta of 0.81. The firm has a fifty day simple moving average of $16.53 and a 200 day simple moving average of $15.60.

Paramount Resources (OTCMKTS:PRMRF) last announced its earnings results on Tuesday, November 4th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.12). The business had revenue of $103.54 million for the quarter, compared to analysts’ expectations of $136.00 million. Paramount Resources had a net margin of 129.12% and a return on equity of 4.42%. Research analysts predict that Paramount Resources Ltd. will post 1.74 EPS for the current year.

Paramount Resources Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, October 31st. Investors of record on Thursday, October 16th were issued a $0.0359 dividend. This represents a yield of 262.0%. The ex-dividend date was Wednesday, October 15th. Paramount Resources’s payout ratio is presently 6.43%.

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.