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

Paramount Resources Ltd. (OTCMKTS:PRMRF) has been given a consensus recommendation of “Moderate Buy” by the nine brokerages that are currently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and two have assigned a strong buy recommendation to the company.

Several equities research analysts recently weighed in on PRMRF shares. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Paramount Resources in a report on Wednesday, May 13th. Zacks Research upgraded Paramount Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Scotiabank raised Paramount Resources to a “hold” rating in a research note on Friday, June 26th. Royal Bank Of Canada restated a “sector perform” rating on shares of Paramount Resources in a report on Wednesday, May 13th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Paramount Resources in a research note on Tuesday, May 12th.

Paramount Resources Price Performance

PRMRF stock opened at $20.27 on Wednesday. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of 77.96 and a beta of 0.63. The company has a 50 day simple moving average of $21.45 and a 200 day simple moving average of $20.02. Paramount Resources has a 1 year low of $13.24 and a 1 year high of $24.25.

Paramount Resources (OTCMKTS:PRMRF) last issued its earnings results on Tuesday, May 12th. The company reported $0.26 earnings per share for the quarter, beating 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 net margin of 6.65% and a return on equity of 1.98%. On average, equities research analysts anticipate 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.