Paramount Resources (OTCMKTS:PRMRF – Get Free Report) released its quarterly earnings results on Thursday. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.05, Zacks reports. The business had revenue of $183.53 million for the quarter, compared to analyst estimates of $151.36 million. Paramount Resources had a net margin of 12.52% and a return on equity of 4.33%.
Paramount Resources Stock Performance
Shares of PRMRF opened at $21.55 on Friday. The company has a market capitalization of $3.15 billion, a PE ratio of 37.81 and a beta of 0.63. The company’s 50 day moving average price is $20.57 and its 200 day moving average price is $20.57. Paramount Resources has a 52 week low of $13.24 and a 52 week high of $24.25.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on PRMRF. Jefferies Financial Group reiterated a “buy” rating on shares of Paramount Resources in a research report on Tuesday, May 12th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Paramount Resources in a report on Friday, July 10th. Scotiabank reaffirmed a “sector perform” rating on shares of Paramount Resources in a research report on Friday. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Paramount Resources in a report on Friday. Finally, Zacks Research lowered Paramount Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. One 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 company’s stock. According to MarketBeat.com, Paramount Resources presently has an average rating of “Moderate Buy”.
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.
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