Paramount Resources (OTCMKTS:PRMRF) Stock Price Down 6.3% – Here’s What Happened

Paramount Resources Ltd. (OTCMKTS:PRMRF) traded down 6.3% on Monday . The company traded as low as $20.10 and last traded at $20.10. 754 shares changed hands during trading, a decline of 95% from the average session volume of 15,532 shares. The stock had previously closed at $21.44.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Paramount Resources in a report on Wednesday, May 13th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Paramount Resources in a report on Wednesday, May 13th. Roth Mkm raised Paramount Resources to a “strong-buy” rating in a report on Wednesday, March 4th. Jefferies Financial Group restated a “buy” rating on shares of Paramount Resources in a research note on Tuesday, May 12th. Finally, Zacks Research upgraded shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Paramount Resources presently has an average rating of “Buy”.

Paramount Resources Trading Down 0.8%

The firm has a market capitalization of $2.92 billion, a price-to-earnings ratio of 77.30 and a beta of 0.62. The firm has a fifty day moving average price of $21.63 and a 200 day moving average price of $19.86.

Paramount Resources (OTCMKTS:PRMRF) last announced its earnings results on Tuesday, May 12th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.20 by $0.06. The business had revenue of $164.35 million for the quarter, compared to the consensus estimate of $119.34 million. Paramount Resources had a return on equity of 1.98% and a net margin of 6.65%. As a group, equities analysts predict that Paramount Resources Ltd. will post 1.06 EPS 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.