Paramount Resources Ltd. (OTCMKTS:PRMRF) Given Average Recommendation of “Moderate Buy” by Analysts

Paramount Resources Ltd. (OTCMKTS:PRMRF) has been assigned an average rating of “Moderate Buy” from the eight research firms that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company.

A number of equities research analysts have recently commented on PRMRF shares. Raymond James Financial raised Paramount Resources from a “hold” rating to a “moderate buy” rating in a research report on Thursday, January 15th. Scotiabank reissued an “outperform” rating on shares of Paramount Resources in a research note on Wednesday, January 21st. Roth Mkm upgraded shares of Paramount Resources to a “strong-buy” rating in a report on Wednesday, March 4th. Zacks Research raised shares of Paramount Resources to a “hold” rating in a research note on Thursday, March 5th. Finally, ATB Cormark Capital Markets cut shares of Paramount Resources from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, March 3rd.

Paramount Resources Trading Down 6.2%

Paramount Resources stock opened at $19.87 on Monday. The firm has a market capitalization of $2.87 billion, a P/E ratio of 3.26 and a beta of 0.68. The business has a 50-day moving average of $19.97 and a 200-day moving average of $17.90. Paramount Resources has a 1 year low of $10.28 and a 1 year high of $22.35.

Paramount Resources (OTCMKTS:PRMRF) last announced its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.17). The firm had revenue of $144.55 million for the quarter, compared to the consensus estimate of $137.63 million. Paramount Resources had a return on equity of 1.54% and a net margin of 149.02%. Research analysts anticipate that Paramount Resources 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.