Paramount Resources Ltd. (OTCMKTS:PRMRF) Given Average Rating of “Moderate Buy” by Analysts

Paramount Resources Ltd. (OTCMKTS:PRMRF) has been given an average recommendation of “Moderate Buy” by the nine brokerages that are covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company.

A number of brokerages have recently commented on PRMRF. Zacks Research cut shares of Paramount Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. Royal Bank Of Canada restated a “sector perform” rating on shares of Paramount Resources in a research report on Friday. Scotiabank reiterated a “sector perform” rating on shares of Paramount Resources in a report on Friday. Jefferies Financial Group reissued a “buy” rating on shares of Paramount Resources in a research note on Tuesday, May 12th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Paramount Resources in a report on Friday, July 10th.

Paramount Resources Stock Performance

Shares of PRMRF opened at $21.55 on Friday. The stock has a 50 day moving average price of $20.57 and a 200 day moving average price of $20.57. Paramount Resources has a one year low of $13.24 and a one year high of $24.25. The stock has a market capitalization of $3.15 billion, a price-to-earnings ratio of 37.81 and a beta of 0.63.

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