Paramount Resources (OTCMKTS:PRMRF) Posts Earnings Results, Beats Estimates By $0.06 EPS

Paramount Resources (OTCMKTS:PRMRF) issued its quarterly earnings data on Tuesday. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.06, Zacks reports. Paramount Resources had a return on equity of 1.53% and a net margin of 149.02%.

Paramount Resources Stock Up 3.5%

Shares of OTCMKTS:PRMRF traded up $0.75 during mid-day trading on Tuesday, hitting $22.10. 9,687 shares of the company traded hands, compared to its average volume of 16,269. The stock has a market cap of $3.21 billion, a P/E ratio of 3.63 and a beta of 0.64. The company has a current ratio of 3.77, a quick ratio of 3.77 and a debt-to-equity ratio of 0.10. Paramount Resources has a 12-month low of $12.57 and a 12-month high of $23.06. The stock has a 50-day moving average price of $21.04 and a two-hundred day moving average price of $18.79.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Zacks Research raised Paramount Resources to a “hold” rating in a research report on Thursday, March 5th. Scotiabank reaffirmed an “outperform” rating on shares of Paramount Resources in a research report on Wednesday, January 21st. Raymond James Financial raised Paramount Resources from a “hold” rating to a “moderate buy” rating in a research report on Thursday, January 15th. ATB Cormark Capital Markets lowered Paramount Resources from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, March 3rd. Finally, Roth Mkm raised Paramount Resources to a “strong-buy” rating in a research report on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

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.