Paramount Resources (OTCMKTS:PRMRF) Hits New 12-Month High – Should You Buy?

Paramount Resources Ltd. (OTCMKTS:PRMRF)’s share price hit a new 52-week high during trading on Saturday . The company traded as high as $22.3525 and last traded at $21.8850, with a volume of 37949 shares changing hands. The stock had previously closed at $21.88.

Analyst Ratings Changes

A number of analysts recently weighed in on PRMRF shares. Raymond James Financial upgraded shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a research note on Thursday, January 15th. Zacks Research raised shares of Paramount Resources to a “hold” rating in a report on Thursday, March 5th. Scotiabank reiterated an “outperform” rating on shares of Paramount Resources in a research note on Wednesday, January 21st. ATB Cormark Capital Markets lowered Paramount Resources from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, March 3rd. Finally, Roth Mkm upgraded Paramount Resources to a “strong-buy” rating in a research report on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Paramount Resources currently has an average rating of “Moderate Buy”.

Paramount Resources Price Performance

The company has a market cap of $3.16 billion, a PE ratio of 3.59 and a beta of 0.70. The company has a 50-day moving average price of $19.28 and a two-hundred day moving average price of $17.51.

Paramount Resources (OTCMKTS:PRMRF) last released 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 company had revenue of $144.55 million for the quarter, compared to analyst estimates of $137.63 million. On average, equities research analysts anticipate that Paramount Resources Ltd. will post 1.74 earnings per share 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.