Paramount Resources (OTCMKTS:PRMRF) Lowered to Hold Rating by Zacks Research

Paramount Resources (OTCMKTS:PRMRF) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other equities research analysts also recently commented on PRMRF. Jefferies Financial Group reiterated a “buy” rating on shares of Paramount Resources in a report on Tuesday, May 12th. Scotiabank raised shares of Paramount Resources to a “hold” rating in a research note on Friday, June 26th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Paramount Resources in a report on Friday. Finally, Royal Bank Of Canada reissued a “sector perform” rating on shares of Paramount Resources in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Paramount Resources currently has an average rating of “Moderate Buy”.

Paramount Resources Trading Up 0.7%

Paramount Resources stock opened at $20.50 on Monday. The company has a market cap of $2.99 billion, a PE ratio of 78.85 and a beta of 0.63. Paramount Resources has a 1 year low of $13.24 and a 1 year high of $24.25. The company’s 50-day moving average is $21.26 and its two-hundred day moving average is $20.12.

Paramount Resources (OTCMKTS:PRMRF) last posted its quarterly earnings results on Tuesday, May 12th. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.06. Paramount Resources had a net margin of 6.65% and a return on equity of 1.98%. The business had revenue of $164.34 million during the quarter, compared to the consensus estimate of $119.34 million. Research analysts forecast that Paramount Resources will post 1.06 EPS for the current 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.