Paramount Resources (OTCMKTS:PRMRF) Raised to “Strong-Buy” at Zacks Research

Paramount Resources (OTCMKTS:PRMRF) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

Several other brokerages have also recently commented on PRMRF. ATB Cormark Capital Markets cut Paramount Resources from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, March 3rd. Jefferies Financial Group reissued a “buy” rating on shares of Paramount Resources in a research note on Tuesday. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Paramount Resources in a research report on Wednesday. Roth Mkm raised shares of Paramount Resources to a “strong-buy” rating in a research report on Wednesday, March 4th. Finally, Raymond James Financial upgraded shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a research note on Thursday, January 15th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy”.

Paramount Resources Trading Down 1.0%

PRMRF opened at $22.33 on Tuesday. The firm has a market cap of $3.24 billion, a PE ratio of 85.89 and a beta of 0.64. Paramount Resources has a twelve month low of $13.03 and a twelve month high of $23.06. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.77 and a current ratio of 3.77. The firm’s fifty day moving average is $21.15 and its two-hundred day moving average is $18.88.

Paramount Resources (OTCMKTS:PRMRF) last released its quarterly earnings results on Tuesday, May 12th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.06. Paramount Resources had a net margin of 6.65% and a return on equity of 2.00%. The company had revenue of $164.35 million during the quarter, compared to analysts’ expectations of $119.34 million. Equities research analysts anticipate that Paramount Resources will post 0.71 EPS 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.