Paramount Resources (OTCMKTS:PRMRF) Raised to Strong-Buy at Zacks Research

Paramount Resources (OTCMKTS:PRMRF) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday, Zacks reports.

Other analysts also recently issued reports about the company. 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 report on Monday, October 19th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Paramount Resources in a research report on Friday, October 9th. Finally, Royal Bank Of Canada restated a “sector perform” rating on shares of Paramount Resources in a report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy”.

Paramount Resources Stock Down 0.6%

Shares of OTCMKTS PRMRF opened at $24.74 on Monday. The business has a fifty day simple moving average of $22.82 and a two-hundred day simple moving average of $21.08. Paramount Resources has a twelve month low of $15.43 and a twelve month high of $25.24.

Paramount Resources (OTCMKTS:PRMRF) last issued its earnings results on Thursday, August 6th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.05. The firm had revenue of $183.53 million during the quarter, compared to analysts’ expectations of $151.36 million. As a group, sell-side analysts expect that Paramount Resources will post 1.28 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, natural gas, condensate and natural gas liquids. The company focuses on developing petroleum and natural gas resources in western Canada.

Paramount’s operations are concentrated in Alberta, including the Grande Prairie and Kaybob areas. Its activities generally include drilling wells, developing and operating production infrastructure, and processing and marketing hydrocarbons produced from its resource properties.

Founded in 1976, Paramount Resources has grown into an established Canadian exploration and production company.