Paramount Resources (OTCMKTS:PRMRF) Raised to Hold at Zacks Research

Paramount Resources (OTCMKTS:PRMRF) was upgraded by investment analysts at Zacks Research to a “hold” rating in a report released on Thursday,Zacks.com reports.

A number of other research analysts have also commented on PRMRF. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Paramount Resources in a research report on Wednesday, November 5th. Roth Mkm raised shares of Paramount Resources to a “strong-buy” rating in a research report on Wednesday. Scotiabank reiterated an “outperform” rating on shares of Paramount Resources in a report on Wednesday, January 21st. Raymond James Financial upgraded Paramount Resources from a “hold” rating to a “moderate buy” rating in a research report on Thursday, January 15th. Finally, ATB Cormark Capital Markets lowered shares of Paramount Resources from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday. One investment 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

Paramount Resources Trading Up 0.5%

PRMRF opened at $21.61 on Thursday. Paramount Resources has a 12-month low of $10.28 and a 12-month high of $22.05. The stock has a 50-day moving average price of $18.35 and a 200-day moving average price of $17.02. The stock has a market capitalization of $3.12 billion, a P/E ratio of 3.55 and a beta of 0.70.

Paramount Resources (OTCMKTS:PRMRF) last posted its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.16 by ($0.17). Paramount Resources had a return on equity of 1.54% and a net margin of 149.02%.The business had revenue of $144.55 million for the quarter, compared to analysts’ expectations of $137.63 million. On average, equities research analysts predict that Paramount Resources will post 1.74 EPS for the current 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.