Paramount Resources (OTCMKTS:PRMRF) Releases Earnings Results, Misses Estimates By $0.17 EPS

Paramount Resources (OTCMKTS:PRMRF) issued its earnings results on Tuesday. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.17), Zacks reports. The business had revenue of $144.55 million during the quarter, compared to the consensus estimate of $137.63 million. Paramount Resources had a return on equity of 4.42% and a net margin of 129.12%.

Paramount Resources Trading Up 1.3%

Shares of PRMRF traded up $0.27 during mid-day trading on Wednesday, hitting $21.77. 15,454 shares of the company traded hands, compared to its average volume of 14,191. The stock has a market capitalization of $3.14 billion, a price-to-earnings ratio of 3.33 and a beta of 0.70. Paramount Resources has a one year low of $10.28 and a one year high of $21.87. The business has a 50-day moving average of $18.13 and a 200 day moving average of $16.90.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Raymond James Financial raised Paramount Resources from a “hold” rating to a “moderate buy” rating in a research report on Thursday, January 15th. Scotiabank reissued 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 report on Wednesday, November 5th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

About Paramount Resources

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.