Paramount Resources (OTCMKTS:PRMRF) Stock Crosses Above Fifty Day Moving Average – What’s Next?

Shares of Paramount Resources Ltd. (OTCMKTS:PRMRF) crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $18.85 and traded as high as $21.7250. Paramount Resources shares last traded at $21.5350, with a volume of 11,860 shares.

Analyst Ratings Changes

Several research analysts have recently issued reports on PRMRF shares. Roth Mkm upgraded shares of Paramount Resources to a “strong-buy” rating in a report on Wednesday, March 4th. Raymond James Financial upgraded shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a research report on Thursday, January 15th. Zacks Research raised Paramount Resources to a “hold” rating in a research report on Thursday, March 5th. Scotiabank restated an “outperform” rating on shares of Paramount Resources in a research note on Wednesday, January 21st. Finally, ATB Cormark Capital Markets cut Paramount Resources from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, March 3rd. One equities research 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 MarketBeat, the company presently has an average rating of “Moderate Buy”.

Paramount Resources Stock Down 0.3%

The firm’s fifty day simple moving average is $18.85 and its 200-day simple moving average is $17.36. The company has a market cap of $3.11 billion, a PE ratio of 3.54 and a beta of 0.70.

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