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

Paramount Resources Ltd. (OTCMKTS:PRMRF) has been given a consensus rating of “Buy” by the eight brokerages that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company.

Several brokerages have issued reports on PRMRF. Raymond James Financial reaffirmed an “outperform” rating on shares of Paramount Resources in a research report on Wednesday, September 16th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Paramount Resources in a report on Friday, October 9th. Scotiabank restated a “sector perform” rating on shares of Paramount Resources in a research note on Monday, October 19th. Zacks Research raised shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a report on Monday, October 26th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating on shares of Paramount Resources in a research report on Friday, August 7th.

Paramount Resources Stock Performance

Paramount Resources stock opened at $21.91 on Tuesday. Paramount Resources has a fifty-two week low of $15.60 and a fifty-two week high of $25.24. The stock has a market cap of $3.20 billion, a PE ratio of -16.73 and a beta of 0.81. The firm’s 50-day simple moving average is $22.91 and its 200 day simple moving average is $21.39.

Paramount Resources (OTCMKTS:PRMRF) last posted its quarterly earnings data on Thursday, November 5th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.17). Paramount Resources had a return on equity of 4.31% and a net margin of 12.52%. The company had revenue of $277.70 million for the quarter, compared to analysts’ expectations of $165.04 million. As a group, analysts predict that Paramount Resources will post 1.28 EPS for the current fiscal year.

About Paramount Resources

Paramount Resources Ltd. is a Canadian energy company focused on the exploration, development and production of natural gas, crude oil and natural gas liquids. Its operations also include infrastructure that supports the gathering and processing of its production.

The company’s activities are concentrated in Western Canada, particularly in Alberta and British Columbia, where it develops resources in areas including the Montney, Deep Basin and Duvernay. Paramount traces its history to 1976 and is headquartered in Calgary, Alberta.

Paramount is led by President and Chief Executive Officer James Riddell.