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Paramount Resources (OTCMKTS:PRMRF) Announces Earnings Results, Misses Estimates By $0.10 EPS

Paramount Resources logo with Energy background

Key Points

  • Paramount Resources reported an earnings per share (EPS) of $0.02 for the quarter, falling short of the analysts' expectations of $0.12.
  • The company's stock experienced a slight decline, trading down 0.1% to $15.80, with a market capitalization of $2.27 billion.
  • Paramount Resources announced a dividend of $0.0367 per share, representing a yield of 2.87%, to be paid on July 31.
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Paramount Resources (OTCMKTS:PRMRF - Get Free Report) announced its earnings results on Wednesday. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.12 by ($0.10), Zacks reports. The business had revenue of $93.43 million for the quarter, compared to analyst estimates of $131.00 million. Paramount Resources had a return on equity of 6.89% and a net margin of 111.48%.

Paramount Resources Price Performance

Shares of OTCMKTS:PRMRF traded down $0.42 during midday trading on Friday, hitting $15.02. 3,765 shares of the company's stock were exchanged, compared to its average volume of 60,838. The company has a market cap of $2.16 billion, a PE ratio of 2.14 and a beta of 1.60. Paramount Resources has a 12 month low of $9.89 and a 12 month high of $22.95. The stock has a 50 day moving average price of $15.44 and a 200-day moving average price of $14.76.

Paramount Resources Cuts Dividend

The firm also recently announced a dividend, which was paid on Thursday, July 31st. Stockholders of record on Wednesday, July 16th were given a dividend of $0.0367 per share. The ex-dividend date of this dividend was Tuesday, July 15th. This represents a dividend yield of 287.0%. Paramount Resources's payout ratio is presently 6.28%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Royal Bank Of Canada restated a "sector perform" rating on shares of Paramount Resources in a research report on Wednesday, May 14th. Raymond James Financial upgraded shares of Paramount Resources to a "moderate buy" rating in a research report on Monday, April 7th. Two research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. According to MarketBeat, Paramount Resources presently has a consensus rating of "Moderate Buy".

View Our Latest Research Report on PRMRF

About Paramount Resources

(Get Free Report)

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.

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Earnings History for Paramount Resources (OTCMKTS:PRMRF)

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