Paramount Resources (OTCMKTS:PRMRF – Get Free Report) was upgraded by research analysts at Scotiabank from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday, Zacks reports.
A number of other equities research analysts have also recently issued reports on PRMRF. Zacks Research raised shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a report on Monday, October 26th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Paramount Resources in a report on Friday, October 9th. Raymond James Financial reiterated an “outperform” rating on shares of Paramount Resources in a report on Wednesday, September 16th. Finally, Royal Bank Of Canada reissued a “sector perform” rating on shares of Paramount Resources in a research report on Friday, August 7th. Three analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy”.
Check Out Our Latest Analysis on PRMRF
Paramount Resources Trading Down 1.1%
Shares of PRMRF opened at $21.91 on Monday. The company’s fifty day simple moving average is $22.91 and its 200 day simple moving average is $21.39. Paramount Resources has a 1-year low of $15.60 and a 1-year high of $25.24. The company has a market cap of $3.20 billion, a price-to-earnings ratio of -16.73 and a beta of 0.81.
Paramount Resources (OTCMKTS:PRMRF – Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The company reported $0.09 EPS 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 during the quarter, compared to analyst estimates of $165.04 million. As a group, research analysts forecast that Paramount Resources will post 1.28 earnings per share for the current year.
About Paramount Resources
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.
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