Paramount Resources (OTCMKTS:PRMRF) Stock Price Passes Above Fifty Day Moving Average – What’s Next?

Paramount Resources Ltd. (OTCMKTS:PRMRF) shares passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $17.78 and traded as high as $18.73. Paramount Resources shares last traded at $18.60, with a volume of 10,008 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PRMRF. Raymond James Financial upgraded Paramount Resources from a “hold” rating to a “moderate buy” rating in a report on Thursday, January 15th. Scotiabank reiterated an “outperform” rating on shares of Paramount Resources in a research note on Wednesday, January 21st. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Paramount Resources in a research report on Wednesday, November 5th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

Paramount Resources Trading Up 0.5%

The firm has a market cap of $2.69 billion, a P/E ratio of 2.85 and a beta of 0.80. The company’s fifty day moving average price is $17.78 and its two-hundred day moving average price is $16.52.

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.