Paramount Resources (OTCMKTS:PRMRF) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Paramount Resources (OTCMKTS:PRMRF) released its earnings results on Thursday. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.28 by $0.05, Zacks reports. Paramount Resources had a net margin of 6.65% and a return on equity of 1.98%.

Paramount Resources Stock Performance

PRMRF stock traded up $1.60 during midday trading on Thursday, hitting $21.61. 73,684 shares of the stock were exchanged, compared to its average volume of 136,232. The stock’s 50-day moving average price is $20.57 and its 200-day moving average price is $20.56. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of 83.13 and a beta of 0.63. Paramount Resources has a fifty-two week low of $13.24 and a fifty-two week high of $24.25.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Jefferies Financial Group restated a “buy” rating on shares of Paramount Resources in a research report on Tuesday, May 12th. Zacks Research cut Paramount Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. Royal Bank Of Canada reissued a “sector perform” rating on shares of Paramount Resources in a research note on Wednesday, May 13th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Paramount Resources in a research note on Friday, July 10th. Finally, Scotiabank reaffirmed a “sector perform” rating on shares of Paramount Resources in a report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Paramount Resources has an average 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.