Paramount Resources (OTCMKTS:PRMRF) Sets New 12-Month High – Here’s Why

Shares of Paramount Resources Ltd. (OTCMKTS:PRMRF) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $19.4363 and last traded at $19.4363, with a volume of 11615 shares traded. The stock had previously closed at $18.95.

Analyst Ratings Changes

Several research firms have recently weighed in on PRMRF. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Paramount Resources in a research report on Wednesday, November 5th. Raymond James Financial raised Paramount Resources from a “hold” rating to a “moderate buy” rating in a research note on Thursday, January 15th. Finally, Scotiabank reissued an “outperform” rating on shares of Paramount Resources in a research note on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Paramount Resources Price Performance

The business has a 50 day simple moving average of $17.95 and a 200 day simple moving average of $16.75. The company has a market cap of $2.85 billion, a price-to-earnings ratio of 3.02 and a beta of 0.80.

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.