Paramount Resources (OTCMKTS:PRMRF) Upgraded to “Strong-Buy” at Zacks Research

Paramount Resources (OTCMKTS:PRMRF) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

Other analysts have also issued reports about the company. Royal Bank Of Canada restated a “sector perform” rating on shares of Paramount Resources in a report on Wednesday. Roth Mkm upgraded Paramount Resources to a “strong-buy” rating in a report on Wednesday, March 4th. ATB Cormark Capital Markets lowered Paramount Resources from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, March 3rd. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Paramount Resources in a report on Wednesday. Finally, Jefferies Financial Group restated a “buy” rating on shares of Paramount Resources in a research note on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Paramount Resources Stock Performance

Shares of Paramount Resources stock opened at $22.33 on Tuesday. The firm has a market cap of $3.24 billion, a price-to-earnings ratio of 85.89 and a beta of 0.64. The stock’s 50-day moving average is $21.15 and its 200-day moving average is $18.88. Paramount Resources has a one year low of $13.03 and a one year high of $23.06. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.77 and a quick ratio of 3.77.

Paramount Resources (OTCMKTS:PRMRF) last issued its quarterly earnings results on Tuesday, May 12th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06. The company had revenue of $164.35 million for the quarter, compared to analyst estimates of $119.34 million. Paramount Resources had a return on equity of 2.00% and a net margin of 6.65%. Equities analysts predict that Paramount Resources will post 0.71 earnings per share for the current fiscal 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.