Paramount Resources (OTCMKTS:PRMRF) Sees Strong Trading Volume – Should You Buy?

Shares of Paramount Resources Ltd. (OTCMKTS:PRMRF) saw strong trading volume on Monday . 18,511 shares were traded during trading, an increase of 13% from the previous session’s volume of 16,315 shares.The stock last traded at $21.5320 and had previously closed at $21.33.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Raymond James Financial raised Paramount Resources from a “hold” rating to a “moderate buy” rating in a research note on Thursday, January 15th. Roth Mkm raised Paramount Resources to a “strong-buy” rating in a research note on Wednesday, March 4th. Royal Bank Of Canada reissued a “sector perform” rating on shares of Paramount Resources in a research note on Wednesday. Jefferies Financial Group reissued a “buy” rating on shares of Paramount Resources in a research note on Tuesday. Finally, ATB Cormark Capital Markets lowered Paramount Resources from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Paramount Resources has an average rating of “Moderate Buy”.

Paramount Resources Stock Down 1.0%

The firm has a market cap of $3.24 billion, a PE ratio of 3.67 and a beta of 0.64. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.77 and a quick ratio of 3.77. The business has a fifty day moving average price of $21.15 and a two-hundred day moving average price of $18.88.

Paramount Resources (OTCMKTS:PRMRF) last announced its quarterly earnings data on Tuesday, May 12th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.06. Paramount Resources had a return on equity of 1.53% and a net margin of 149.02%.The firm had revenue of $164.35 million during the quarter, compared to the consensus estimate of $119.34 million. On average, analysts anticipate that Paramount Resources Ltd. will post 0.71 EPS for the current fiscal 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.