Paramount Resources (OTCMKTS:PRMRF) Shares Gap Down – What’s Next?

Paramount Resources Ltd. (OTCMKTS:PRMRF) gapped down prior to trading on Tuesday . The stock had previously closed at $16.00, but opened at $15.04. Paramount Resources shares last traded at $15.92, with a volume of 3,442 shares.

Analyst Upgrades and Downgrades

PRMRF has been the topic of a number of research reports. Royal Bank Of Canada reiterated 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 report on Monday, April 7th. Two analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

Paramount Resources Trading Up 0.1%

The stock has a market capitalization of $2.30 billion, a P/E ratio of 2.16 and a beta of 1.59. The company has a fifty day simple moving average of $13.49 and a two-hundred day simple moving average of $15.81.

Paramount Resources (OTCMKTS:PRMRF) last announced its quarterly earnings data on Tuesday, May 13th. The company reported $0.20 earnings per share 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 business had revenue of $185.24 million during the quarter, compared to analyst estimates of $198.00 million. As a group, analysts forecast that Paramount Resources Ltd. will post 1.74 earnings per share for the current fiscal year.

Paramount Resources Increases Dividend

The business also recently declared a dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th will be given a $0.05 dividend. This is a positive change from Paramount Resources’s previous dividend of $0.04. This represents a dividend yield of 3.72%. The ex-dividend date is Monday, June 16th. Paramount Resources’s dividend payout ratio (DPR) is currently 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.