Paramount Resources Ltd. (PRMRF) – What Are Brokerages Thinking About This Stock?

Shares of Paramount Resources Ltd. (OTCMKTS:PRMRF) have earned an average rating of “Moderate Buy” from the eight ratings firms that are presently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company.

Several equities research analysts have recently weighed in on PRMRF shares. Zacks Research downgraded shares of Paramount Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Royal Bank Of Canada restated a “sector perform” rating on shares of Paramount Resources in a report on Friday, August 7th. Raymond James Financial restated an “outperform” rating on shares of Paramount Resources in a report on Wednesday, September 16th. Scotiabank reiterated a “sector perform” rating on shares of Paramount Resources in a research note on Friday, August 7th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Paramount Resources in a research note on Friday, October 9th.

Paramount Resources Stock Up 1.5%

Shares of Paramount Resources stock opened at $23.76 on Friday. The stock’s 50-day simple moving average is $22.52 and its 200-day simple moving average is $21.53. Paramount Resources has a 52 week low of $15.43 and a 52 week high of $24.25. The company has a market capitalization of $3.47 billion, a price-to-earnings ratio of 41.68 and a beta of 0.87.

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

Paramount Resources Company Profile

Paramount Resources Ltd. is a Canadian energy company engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. The company focuses on developing unconventional petroleum resources and operates primarily in Alberta, Canada.

Paramount’s principal operating areas have included the Grande Prairie and Kaybob regions, where it holds prospective oil and liquids-rich natural gas properties. Its activities include drilling and completing wells, operating production facilities, and managing infrastructure used to gather and process hydrocarbons.

Founded in 1978, Paramount Resources has grown through exploration, development and strategic acquisitions, including the purchase of Apache Corporation’s Canadian oil and gas assets in 2017.