Paramount Resources (OTCMKTS:PRMRF) Sets New 52-Week High – Time to Buy?

Shares of Paramount Resources Ltd. (OTCMKTS:PRMRF) hit a new 52-week high during trading on Thursday . The stock traded as high as $22.41 and last traded at $22.41, with a volume of 20254 shares trading hands. The stock had previously closed at $22.1055.

Analyst Ratings Changes

PRMRF has been the topic of several analyst reports. ATB Cormark Capital Markets downgraded Paramount Resources from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, March 3rd. Zacks Research upgraded Paramount Resources to a “hold” rating in a report on Thursday, March 5th. Roth Mkm upgraded Paramount Resources to a “strong-buy” rating in a report on Wednesday, March 4th. Scotiabank reiterated an “outperform” rating on shares of Paramount Resources in a report on Wednesday, January 21st. Finally, Raymond James Financial upgraded shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a research note on Thursday, January 15th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

Paramount Resources Stock Performance

The firm’s 50 day moving average price is $20.70 and its 200-day moving average price is $18.51. The firm has a market cap of $3.29 billion, a price-to-earnings ratio of 3.73 and a beta of 0.68. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.77 and a quick ratio of 3.77.

Paramount Resources (OTCMKTS:PRMRF) last announced its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.17). The company had revenue of $144.55 million during the quarter, compared to analyst estimates of $137.63 million. Paramount Resources had a return on equity of 1.53% and a net margin of 149.02%. On average, analysts anticipate that Paramount Resources Ltd. will post 0.71 earnings per share for the current 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.