Paramount Resources (OTCMKTS:PRMRF) Trading Up 2.3% – Should You Buy?

Shares of Paramount Resources Ltd. (OTCMKTS:PRMRF) were up 2.3% during mid-day trading on Wednesday . The company traded as high as $20.33 and last traded at $20.33. Approximately 17,449 shares were traded during trading, a decline of 4% from the average daily volume of 18,199 shares. The stock had previously closed at $19.88.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on PRMRF shares. Scotiabank reissued an “outperform” rating on shares of Paramount Resources in a research note on Wednesday, January 21st. ATB Cormark Capital Markets cut Paramount Resources from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, March 3rd. Raymond James Financial upgraded Paramount Resources from a “hold” rating to a “moderate buy” rating in a report on Thursday, January 15th. Zacks Research upgraded Paramount Resources to a “hold” rating in a report on Thursday, March 5th. Finally, Roth Mkm upgraded Paramount Resources to a “strong-buy” rating in a report on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Paramount Resources presently has a consensus rating of “Moderate Buy”.

Paramount Resources Trading Up 0.5%

The firm has a market cap of $3.04 billion, a price-to-earnings ratio of 3.44 and a beta of 0.68. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.77 and a current ratio of 3.77. The business has a fifty day moving average of $20.46 and a two-hundred day moving average of $18.36.

Paramount Resources (OTCMKTS:PRMRF) last released its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.17). The firm had revenue of $144.55 million during the quarter, compared to analyst estimates of $137.63 million. Paramount Resources had a return on equity of 1.53% and a net margin of 149.02%. As a group, equities analysts expect that Paramount Resources Ltd. will post 0.71 earnings per share for the current fiscal year.

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.