Paramount Resources Ltd. (OTCMKTS:PRMRF) Stock Now Rated “Moderate Buy” by Wall Street Analysts

Paramount Resources Ltd. (OTCMKTS:PRMRF) has been given a consensus rating of “Moderate Buy” by the eight brokerages that are covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company.

Several research firms have weighed in on PRMRF. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Paramount Resources in a research report on Friday, August 7th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Paramount Resources in a report on Friday, July 10th. Raymond James Financial reissued an “outperform” rating on shares of Paramount Resources in a research note on Wednesday, September 16th. Zacks Research downgraded shares of Paramount Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Finally, Scotiabank reaffirmed a “sector perform” rating on shares of Paramount Resources in a research report on Friday, August 7th.

Paramount Resources Price Performance

Shares of OTCMKTS PRMRF opened at $20.97 on Monday. The business has a 50-day moving average of $22.22 and a 200-day moving average of $21.50. The stock has a market capitalization of $3.06 billion, a price-to-earnings ratio of 36.79 and a beta of 0.67. Paramount Resources has a fifty-two week low of $15.43 and a fifty-two week high of $24.25.

Paramount Resources (OTCMKTS:PRMRF) last released its earnings results on Thursday, August 6th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.05. Paramount Resources had a return on equity of 4.31% and a net margin of 12.52%.The business had revenue of $183.53 million for the quarter, compared to analyst estimates of $151.36 million. On average, sell-side analysts expect that Paramount Resources will post 1.08 EPS for the current year.

About Paramount Resources

Paramount Resources Ltd. is a Canadian energy company engaged in the exploration, development and production of crude oil, condensate, natural gas and natural gas liquids. The company’s activities are focused on developing long-life, liquids-rich resource opportunities and related petroleum infrastructure.

Paramount’s operations are concentrated in Alberta, particularly in the Grande Prairie and Kaybob areas. Its asset base includes interests in several of Western Canada’s unconventional oil and natural gas plays, supported by drilling, completion, processing and transportation activities.

Headquartered in Calgary, Alberta, Paramount was founded in 1978 by Clayton Riddell and has grown into one of Canada’s notable publicly traded exploration and production companies.