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

Shares of Paramount Resources Ltd. (OTCMKTS:PRMRF) 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 changing hands.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Raymond James Financial upgraded shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a research report on Thursday, January 15th. Scotiabank restated an “outperform” rating on shares of Paramount Resources in a research report on Wednesday, January 21st. 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. Zacks Research upgraded Paramount Resources to a “hold” rating in a report on Thursday, March 5th. Finally, Roth Mkm raised Paramount Resources to a “strong-buy” rating in a report on Wednesday, March 4th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

Paramount Resources Stock Performance

The company has a market capitalization of $2.93 billion, a price-to-earnings ratio of 3.33 and a beta of 0.68. The company has a 50-day moving average price of $20.03 and a 200-day moving average price of $17.91.

Paramount Resources (OTCMKTS:PRMRF) last issued its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.17). The firm had revenue of $144.55 million for the quarter, compared to analyst estimates of $137.63 million. Paramount Resources had a net margin of 149.02% and a return on equity of 1.54%. As a group, sell-side analysts anticipate that Paramount Resources Ltd. will post 1.74 earnings per share for the current fiscal 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.