Paramount Resources Ltd. (OTCMKTS:PRMRF) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Paramount Resources Ltd. (OTCMKTS:PRMRF) have received a consensus recommendation of “Moderate Buy” from the nine analysts that are presently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company.

PRMRF has been the topic of several analyst reports. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Paramount Resources in a research note on Wednesday, May 13th. Scotiabank upgraded Paramount Resources to a “hold” rating in a research note on Friday, June 26th. Jefferies Financial Group restated a “buy” rating on shares of Paramount Resources in a research note on Tuesday, May 12th. Zacks Research raised Paramount Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Paramount Resources in a research report on Friday.

Paramount Resources Stock Performance

Shares of OTCMKTS:PRMRF opened at $20.50 on Wednesday. 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 $2.99 billion, a price-to-earnings ratio of 78.85 and a beta of 0.63. The company has a 50-day simple moving average of $21.26 and a 200-day simple moving average of $20.12.

Paramount Resources (OTCMKTS:PRMRF) last released its quarterly earnings results on Tuesday, May 12th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.06. The firm had revenue of $164.34 million for the quarter, compared to analyst estimates of $119.34 million. Paramount Resources had a return on equity of 1.98% and a net margin of 6.65%. As a group, research analysts forecast that Paramount Resources will post 1.06 EPS for the current fiscal 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.