Paramount Resources (OTCMKTS:PRMRF) Stock Rating Upgraded by Scotiabank

Paramount Resources (OTCMKTS:PRMRF) was upgraded by stock analysts at Scotiabank from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday, Zacks reports.

PRMRF has been the topic of several other research reports. Zacks Research raised Paramount Resources from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 26th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Paramount Resources in a report on Friday, October 9th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Paramount Resources in a research report on Friday, August 7th. Finally, Raymond James Financial reiterated an “outperform” rating on shares of Paramount Resources in a report on Wednesday, September 16th. Three research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy”.

Paramount Resources Stock Performance

Shares of OTCMKTS PRMRF opened at $21.91 on Monday. The stock has a market cap of $3.20 billion, a P/E ratio of -16.73 and a beta of 0.81. The firm has a 50 day moving average price of $22.91 and a 200 day moving average price of $21.39. Paramount Resources has a 52-week low of $15.60 and a 52-week high of $25.24.

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

Paramount Resources Company Profile

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.