Paramount Resources Ltd. (OTCMKTS:PRMRF) Receives Average Recommendation of “Buy” from Brokerages

Shares of Paramount Resources Ltd. (OTCMKTS:PRMRF) have been given a consensus recommendation of “Buy” by the nine research firms that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company.

A number of equities research analysts have weighed in on PRMRF shares. Jefferies Financial Group reiterated a “buy” rating on shares of Paramount Resources in a research note on Tuesday, May 12th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Paramount Resources in a research note on Wednesday, May 13th. ATB Cormark Capital Markets lowered shares of Paramount Resources from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, March 3rd. Roth Mkm upgraded shares of Paramount Resources to a “strong-buy” rating in a research note on Wednesday, March 4th. Finally, Zacks Research upgraded shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th.

Paramount Resources Stock Performance

Shares of PRMRF opened at $19.50 on Friday. The firm has a market cap of $2.84 billion, a PE ratio of 75.00 and a beta of 0.62. The firm has a fifty day simple moving average of $21.59 and a two-hundred day simple moving average of $19.90. Paramount Resources has a 1-year low of $13.24 and a 1-year high of $24.25.

Paramount Resources (OTCMKTS:PRMRF) last announced 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 business had revenue of $164.35 million during 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%. As a group, research analysts forecast 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.