Paramount Resources Ltd. (OTCMKTS:PRMRF) Stock Rated “Moderate Buy” by Wall Street Brokerages

Shares of Paramount Resources Ltd. (OTCMKTS:PRMRF) have been given a consensus recommendation of “Moderate Buy” by the eight analysts that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company.

A number of equities analysts have recently commented on PRMRF shares. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Paramount Resources in a research note on Friday, July 10th. Scotiabank restated a “sector perform” rating on shares of Paramount Resources in a research note on Friday, August 7th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Paramount Resources in a report on Friday, August 7th. Raymond James Financial reaffirmed an “outperform” rating on shares of Paramount Resources in a research report on Wednesday, September 16th. Finally, Zacks Research lowered Paramount Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th.

Paramount Resources Trading Down 2.2%

OTCMKTS:PRMRF opened at $20.97 on Monday. Paramount Resources has a 1 year low of $15.43 and a 1 year high of $24.25. The firm’s fifty day simple moving average is $22.22 and its 200 day simple moving average is $21.50. The firm has a market capitalization of $3.06 billion, a PE ratio of 36.79 and a beta of 0.67.

Paramount Resources (OTCMKTS:PRMRF) last released its earnings results on Thursday, August 6th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.05. Paramount Resources had a net margin of 12.52% and a return on equity of 4.31%. The firm had revenue of $183.53 million during the quarter, compared to analyst estimates of $151.36 million. As a group, analysts anticipate that Paramount Resources will post 1.08 EPS for the current fiscal 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.