Paramount Resources (OTCMKTS:PRMRF) Shares Gap Down – Should You Sell?

Paramount Resources Ltd. (OTCMKTS:PRMRF) gapped down prior to trading on Tuesday . The stock had previously closed at $21.0695, but opened at $20.2585. Paramount Resources shares last traded at $20.30, with a volume of 856 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PRMRF shares. Roth Mkm raised Paramount Resources to a “strong-buy” rating in a research report on Wednesday, March 4th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Paramount Resources in a research report on Wednesday, May 13th. Royal Bank Of Canada reissued a “sector perform” rating on shares of Paramount Resources in a research report on Wednesday, May 13th. ATB Cormark Capital Markets lowered Paramount Resources from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, March 3rd. Finally, Zacks Research raised Paramount Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy”.

Paramount Resources Trading Down 0.8%

The stock has a market capitalization of $2.96 billion, a PE ratio of 78.27 and a beta of 0.62. The firm has a 50-day moving average price of $21.63 and a 200-day moving average price of $19.83.

Paramount Resources (OTCMKTS:PRMRF) last announced its earnings results on Tuesday, May 12th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.06. Paramount Resources had a return on equity of 1.98% and a net margin of 6.65%.The firm had revenue of $164.35 million during the quarter, compared to analyst estimates of $119.34 million. Sell-side analysts expect that Paramount Resources Ltd. will post 1.06 earnings per share for the current fiscal 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.