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

Paramount Resources Ltd. (OTCMKTS:PRMRF - Get Free Report) shares gapped down prior to trading on Wednesday . The stock had previously closed at $15.67, but opened at $15.20. Paramount Resources shares last traded at $15.53, with a volume of 2,630 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Raymond James Financial upgraded shares of Paramount Resources to a "moderate buy" rating in a research report on Monday, April 7th. Royal Bank Of Canada reissued a "sector perform" rating on shares of Paramount Resources in a research note on Wednesday, May 14th. Two analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Paramount Resources presently has an average rating of "Moderate Buy".

Paramount Resources Price Performance

The company's 50-day moving average is $15.04 and its 200-day moving average is $15.16. The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of 2.11 and a beta of 1.60.

Paramount Resources (OTCMKTS:PRMRF - Get Free Report) last released its quarterly earnings data on Tuesday, May 13th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.09). The business had revenue of $185.24 million for the quarter, compared to analysts' expectations of $198.00 million. Paramount Resources had a return on equity of 9.08% and a net margin of 94.21%. Sell-side analysts anticipate that Paramount Resources Ltd. will post 1.74 earnings per share for the current year.

Paramount Resources Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, July 31st. Shareholders of record on Wednesday, July 16th will be issued a $0.0367 dividend. This represents a yield of 2.87%. The ex-dividend date is Tuesday, July 15th. Paramount Resources's dividend payout ratio is presently 5.94%.

Paramount Resources Company Profile

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.