Paramount Resources Ltd. (OTCMKTS:PRMRF) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Paramount Resources Ltd. (OTCMKTS:PRMRF) have been given a consensus recommendation of “Moderate Buy” by the nine research firms that are presently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company.

Several equities research analysts recently weighed in on the company. Zacks Research cut Paramount Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Scotiabank restated a “sector perform” rating on shares of Paramount Resources in a report on Friday, August 7th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Paramount Resources in a research report on Tuesday, May 12th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Paramount Resources in a research note on Friday, July 10th. Finally, Royal Bank Of Canada reissued a “sector perform” rating on shares of Paramount Resources in a research report on Friday, August 7th.

Paramount Resources Stock Performance

Paramount Resources stock opened at $22.84 on Thursday. The stock’s 50 day simple moving average is $20.96 and its two-hundred day simple moving average is $21.03. The stock has a market cap of $3.33 billion, a price-to-earnings ratio of 40.08 and a beta of 0.63. Paramount Resources has a fifty-two week low of $14.21 and a fifty-two week high of $24.25.

Paramount Resources (OTCMKTS:PRMRF) last announced its earnings results on Thursday, August 6th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.05. The firm had revenue of $183.53 million during the quarter, compared to analyst estimates of $151.36 million. Paramount Resources had a return on equity of 4.33% and a net margin of 12.52%. On average, analysts predict that Paramount Resources will post 1.08 earnings per share for the current year.

About Paramount Resources

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.