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

Shares of Paramount Resources Ltd. (OTCMKTS:PRMRF) have received an average rating of “Moderate Buy” from the six brokerages that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company.

Several equities research analysts recently commented on the stock. Scotiabank restated an “outperform” rating on shares of Paramount Resources in a research report on Wednesday, January 21st. Roth Mkm raised Paramount Resources to a “strong-buy” rating in a research report on Wednesday. Raymond James Financial upgraded Paramount Resources from a “hold” rating to a “moderate buy” rating in a research report on Thursday, January 15th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Paramount Resources in a report on Wednesday, November 5th.

Paramount Resources Price Performance

OTCMKTS PRMRF opened at $21.66 on Thursday. Paramount Resources has a 12 month low of $10.28 and a 12 month high of $21.87. The company has a market capitalization of $3.13 billion, a P/E ratio of 3.56 and a beta of 0.70. The company’s 50 day simple moving average is $18.20 and its 200 day simple moving average is $16.93.

Paramount Resources (OTCMKTS:PRMRF) last announced its earnings results on Tuesday, March 3rd. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.17). The company had revenue of $144.55 million for the quarter, compared to analyst estimates of $137.63 million. Paramount Resources had a return on equity of 1.54% and a net margin of 149.02%. On average, analysts anticipate that Paramount Resources will post 1.74 earnings per share for the current year.

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.