Paramount Resources (OTCMKTS:PRMRF) Shares Pass Below Fifty Day Moving Average – Time to Sell?

Paramount Resources Ltd. (OTCMKTS:PRMRF)’s share price crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $17.36 and traded as low as $16.8962. Paramount Resources shares last traded at $17.0175, with a volume of 4,920 shares traded.

Analyst Ratings Changes

Several equities research analysts have issued reports on PRMRF shares. Raymond James Financial raised Paramount Resources from a “hold” rating to a “moderate buy” rating in a report on Thursday. CIBC reaffirmed an “outperform” rating on shares of Paramount Resources in a research report on Wednesday, November 5th. National Bankshares restated a “sector perform” rating on shares of Paramount Resources in a research note on Thursday, September 25th. Finally, Royal Bank Of Canada restated a “sector perform” rating on shares of Paramount Resources in a research note on Tuesday, September 23rd. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Paramount Resources has a consensus rating of “Hold”.

Paramount Resources Price Performance

The firm has a market cap of $2.46 billion, a P/E ratio of 2.61 and a beta of 0.75. The company’s 50-day moving average is $17.36 and its two-hundred day moving average is $16.15.

Paramount Resources (OTCMKTS:PRMRF) last issued its earnings results on Tuesday, November 4th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.12). Paramount Resources had a net margin of 129.12% and a return on equity of 4.42%. The firm had revenue of $103.54 million during the quarter, compared to analyst estimates of $136.00 million. On average, analysts expect that Paramount Resources Ltd. will post 1.74 EPS for the current fiscal year.

Paramount Resources Company Profile

Paramount Resources Ltd. is a Calgary, Alberta–based energy company engaged in the exploration, development and production of conventional and unconventional oil and natural gas resources. The company’s operations span acquisition of acreage, drilling and completion activities, reservoir optimization and production marketing, with a focus on upstream activities. Paramount also holds a portfolio of royalty interests that generate recurring cash flows from production by third parties.

Paramount’s core operating regions are located within the Western Canadian Sedimentary Basin, primarily in Alberta and northeastern British Columbia.