Paramount Resources (OTCMKTS:PRMRF) Hits New 1-Year High – Time to Buy?

Paramount Resources Ltd. (OTCMKTS:PRMRF)’s stock price reached a new 52-week high on Monday. The stock traded as high as $24.82 and last traded at $24.82, with a volume of 4,533 shares trading hands. The stock had previously closed at $24.28.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Royal Bank Of Canada reissued a “sector perform” rating on shares of Paramount Resources in a research report on Friday, August 7th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Paramount Resources in a research report on Friday, October 9th. Raymond James Financial reaffirmed an “outperform” rating on shares of Paramount Resources in a research report on Wednesday, September 16th. Zacks Research lowered Paramount Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Finally, Scotiabank reissued a “sector perform” rating on shares of Paramount Resources in a research report on Monday, October 19th. One 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

Paramount Resources Price Performance

The business has a fifty day moving average of $22.75 and a 200 day moving average of $21.69. The stock has a market cap of $3.64 billion, a PE ratio of 43.72 and a beta of 0.87.

Paramount Resources (OTCMKTS:PRMRF) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.05. The firm had revenue of $183.53 million for the quarter, compared to the consensus estimate of $151.36 million. Paramount Resources had a net margin of 12.52% and a return on equity of 4.31%. On average, equities research analysts expect that Paramount Resources Ltd. will post 1.28 EPS for the current year.

Paramount Resources Company Profile

Paramount Resources Ltd. is a Canadian energy company engaged in the exploration, development and production of crude oil, natural gas, condensate and natural gas liquids. The company focuses on developing petroleum and natural gas resources in western Canada.

Paramount’s operations are concentrated in Alberta, including the Grande Prairie and Kaybob areas. Its activities generally include drilling wells, developing and operating production infrastructure, and processing and marketing hydrocarbons produced from its resource properties.

Founded in 1976, Paramount Resources has grown into an established Canadian exploration and production company.