Paramount Resources (OTCMKTS:PRMRF) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Paramount Resources Ltd. (OTCMKTS:PRMRF) saw strong trading volume on Monday . 16,682 shares traded hands during trading, an increase of 10% from the previous session’s volume of 15,113 shares.The stock last traded at $22.00 and had previously closed at $21.6075.

Analyst Upgrades and Downgrades

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

Paramount Resources Trading Up 0.8%

The stock has a market capitalization of $3.15 billion, a PE ratio of 3.57 and a beta of 0.70. The stock’s fifty day simple moving average is $18.35 and its 200-day simple moving average is $17.06.

Paramount Resources (OTCMKTS:PRMRF) last announced 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 net margin of 149.02% and a return on equity of 1.54%. The firm had revenue of $144.55 million during the quarter, compared to analysts’ expectations of $137.63 million. As a group, analysts anticipate that Paramount Resources Ltd. will post 1.74 earnings per share 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.