Paramount Resources (OTCMKTS:PRMRF) Sees Strong Trading Volume – What’s Next?

Paramount Resources Ltd. (OTCMKTS:PRMRF) shares saw unusually-high trading volume on Monday . Approximately 18,511 shares traded hands during mid-day trading, an increase of 13% from the previous session’s volume of 16,315 shares.The stock last traded at $21.5320 and had previously closed at $21.33.

Analyst Ratings Changes

Several research firms have weighed in on PRMRF. Zacks Research raised Paramount Resources to a “hold” rating in a research report on Thursday, March 5th. ATB Cormark Capital Markets lowered Paramount Resources from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, March 3rd. Scotiabank reaffirmed an “outperform” rating on shares of Paramount Resources in a research report on Wednesday, January 21st. Raymond James Financial raised Paramount Resources from a “hold” rating to a “moderate buy” rating in a research report on Thursday, January 15th. Finally, Roth Mkm upgraded Paramount Resources to a “strong-buy” rating in a research note on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

Paramount Resources Price Performance

The company has a current ratio of 3.77, a quick ratio of 3.77 and a debt-to-equity ratio of 0.10. The company has a 50 day moving average price of $20.95 and a 200 day moving average price of $18.71. The company has a market capitalization of $3.10 billion, a P/E ratio of 3.51 and a beta of 0.64.

Paramount Resources (OTCMKTS:PRMRF) last issued its earnings results on Tuesday, March 3rd. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.16 by ($0.17). Paramount Resources had a return on equity of 1.53% and a net margin of 149.02%.The business had revenue of $144.55 million for the quarter, compared to the consensus estimate of $137.63 million. On average, equities analysts predict that Paramount Resources Ltd. will post 0.71 EPS for the current fiscal year.

Paramount Resources Company Profile

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.