Paramount Resources (OTCMKTS:PRMRF) Stock Price Down 5.9% - Should You Sell?

Key Points

• Paramount Resources shares fell 5.9% to $22.30 in light trading, well below the stock’s average volume. Its 50-day and 200-day moving averages were $22.11 and $21.51, respectively.
• Analyst sentiment remains generally positive, with the stock carrying a “Moderate Buy” consensus: one Strong Buy, four Buy, and four Hold ratings. However, Zacks Research recently downgraded the shares to Hold.
• Paramount exceeded quarterly expectations, reporting $0.33 in EPS versus $0.28 expected and revenue of $183.53 million versus $151.36 million expected. Analysts project full-year EPS of $1.08.

Paramount Resources Ltd. (OTCMKTS:PRMRF - Get Free Report) shares dropped 5.9% during mid-day trading on Monday . The company traded as low as $22.30 and last traded at $22.30. 772 shares were traded during trading, a decline of 100% from the average session volume of 195,883 shares. The stock had previously closed at $23.69.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PRMRF shares. Royal Bank Of Canada reissued a "sector perform" rating on shares of Paramount Resources in a research report on Friday, August 7th. Scotiabank restated a "sector perform" rating on shares of Paramount Resources in a research report on Friday, August 7th. Zacks Research lowered shares of Paramount Resources from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 13th. Raymond James Financial reiterated an "outperform" rating on shares of Paramount Resources in a research note on Wednesday. Finally, Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of Paramount Resources in a research note on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy".

Paramount Resources Trading Down 3.0%

The firm has a fifty day simple moving average of $22.11 and a two-hundred day simple moving average of $21.51. The stock has a market cap of $3.25 billion, a PE ratio of 39.07 and a beta of 0.67.

Paramount Resources (OTCMKTS:PRMRF - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.28 by $0.05. The business had revenue of $183.53 million during the quarter, compared to analysts' expectations of $151.36 million. Paramount Resources had a net margin of 12.52% and a return on equity of 4.31%. Equities analysts forecast that Paramount Resources Ltd. will post 1.08 earnings per share for the current year.

Paramount Resources Company Profile

Paramount Resources Ltd. is a Canadian energy company engaged in the exploration, development and production of crude oil, condensate, natural gas and natural gas liquids. The company's activities are focused on developing long-life, liquids-rich resource opportunities and related petroleum infrastructure.

Paramount's operations are concentrated in Alberta, particularly in the Grande Prairie and Kaybob areas. Its asset base includes interests in several of Western Canada's unconventional oil and natural gas plays, supported by drilling, completion, processing and transportation activities.

Headquartered in Calgary, Alberta, Paramount was founded in 1978 by Clayton Riddell and has grown into one of Canada's notable publicly traded exploration and production companies.

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