Paramount Resources (OTCMKTS:PRMRF) Hits New 12-Month High – Here’s What Happened

Paramount Resources Ltd. (OTCMKTS:PRMRF) reached a new 52-week high on Friday . The company traded as high as $19.4363 and last traded at $19.4363, with a volume of 11615 shares. The stock had previously closed at $18.95.

Analyst Ratings Changes

Several brokerages have commented on PRMRF. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Paramount Resources in a report on Wednesday, November 5th. Scotiabank reissued an “outperform” rating on shares of Paramount Resources in a research note on Wednesday, January 21st. Finally, Raymond James Financial raised shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a report on Thursday, January 15th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Paramount Resources Stock Performance

The company has a market cap of $2.86 billion, a price-to-earnings ratio of 3.03 and a beta of 0.80. The firm’s 50 day simple moving average is $18.01 and its 200-day simple moving average is $16.80.

About Paramount Resources

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.