Paramount Resources (OTCMKTS:PRMRF) Stock Rating Lowered by Zacks Research

Paramount Resources (OTCMKTS:PRMRF) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Several other analysts have also recently commented on the company. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Paramount Resources in a research report on Wednesday, May 13th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Paramount Resources in a research note on Friday. Scotiabank upgraded Paramount Resources to a “hold” rating in a research report on Friday, June 26th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Paramount Resources in a research report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Paramount Resources currently has a consensus rating of “Moderate Buy”.

Paramount Resources Stock Performance

Shares of OTCMKTS:PRMRF opened at $20.50 on Monday. The firm has a 50 day simple moving average of $21.26 and a 200 day simple moving average of $20.12. Paramount Resources has a 52 week low of $13.24 and a 52 week high of $24.25. The company has a market cap of $2.99 billion, a PE ratio of 78.85 and a beta of 0.63.

Paramount Resources (OTCMKTS:PRMRF) last posted its quarterly earnings data on Tuesday, May 12th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.06. Paramount Resources had a net margin of 6.65% and a return on equity of 1.98%. The firm had revenue of $164.34 million for the quarter, compared to analysts’ expectations of $119.34 million. On average, equities analysts predict that Paramount Resources will post 1.06 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.