Paramount Resources Ltd. (OTCMKTS:PRMRF) Stock Now Rated “Buy” by Sell-Side Analysts

Shares of Paramount Resources Ltd. (OTCMKTS:PRMRF) have earned a consensus rating of “Buy” from the eight analysts that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company.

PRMRF has been the topic of a number of research reports. Raymond James Financial reissued an “outperform” rating on shares of Paramount Resources in a report on Wednesday, September 16th. 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 reiterated an “outperform” rating on shares of Paramount Resources in a research report on Friday, October 9th. Scotiabank restated a “sector perform” rating on shares of Paramount Resources in a research report on Monday, October 19th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Paramount Resources in a research note on Friday, August 7th.

Paramount Resources Stock Performance

Paramount Resources stock opened at $21.91 on Tuesday. 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’s fifty day moving average price is $22.91 and its 200-day moving average price is $21.39. Paramount Resources has a fifty-two week low of $15.60 and a fifty-two week high of $25.24.

Paramount Resources (OTCMKTS:PRMRF) last released its quarterly earnings results on Thursday, November 5th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.17). Paramount Resources had a net margin of 12.52% and a return on equity of 4.31%. The firm had revenue of $277.70 million for the quarter, compared to analysts’ expectations of $165.04 million. Sell-side analysts predict that Paramount Resources will post 1.28 earnings per share for the current 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.