Paramount Resources (OTCMKTS:PRMRF) Shares Gap Down - Here's Why

Paramount Resources Ltd. (OTCMKTS:PRMRF - Get Free Report)'s share price gapped down before the market opened 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 traded.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PRMRF shares. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of Paramount Resources in a research report on Wednesday, May 14th. Raymond James Financial raised Paramount Resources to a "moderate buy" rating in a research report on Monday, April 7th. Two investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Paramount Resources currently has a consensus rating of "Moderate Buy".

Paramount Resources Stock Up 0.1%

The stock has a market cap of $2.25 billion, a PE ratio of 2.12 and a beta of 1.60. The firm has a fifty day moving average of $14.88 and a 200 day moving average of $15.25.

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). Paramount Resources had a net margin of 94.21% and a return on equity of 9.08%. The company had revenue of $185.24 million during the quarter, compared to analyst estimates of $198.00 million. On average, equities research analysts forecast that Paramount Resources Ltd. will post 1.74 EPS for the current fiscal year.

Paramount Resources Cuts Dividend

The firm also recently announced a dividend, which will be paid on Thursday, July 31st. Stockholders of record on Wednesday, July 16th will be paid a dividend of $0.0367 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a dividend yield of 2.87%. Paramount Resources's dividend payout ratio (DPR) is 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.