Paramount Resources (OTCMKTS:PRMRF) Shares Gap Up – Still a Buy?

Paramount Resources Ltd. (OTCMKTS:PRMRF) gapped up prior to trading on Friday . The stock had previously closed at $22.31, but opened at $23.3931. Paramount Resources shares last traded at $22.83, with a volume of 1,220 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PRMRF. Scotiabank reissued an “outperform” rating on shares of Paramount Resources in a research note on Wednesday, January 21st. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Paramount Resources in a research note on Wednesday. Royal Bank Of Canada reissued a “sector perform” rating on shares of Paramount Resources in a research note on Wednesday. Roth Mkm raised Paramount Resources to a “strong-buy” rating in a research note on Wednesday, March 4th. Finally, Raymond James Financial raised Paramount Resources from a “hold” rating to a “moderate buy” rating in a research note on Thursday, January 15th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy”.

Paramount Resources Trading Up 1.1%

The company has a market capitalization of $3.35 billion, a price-to-earnings ratio of 88.77 and a beta of 0.64. The business has a fifty day moving average price of $21.17 and a 200 day moving average price of $18.93. 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, topping analysts’ consensus estimates of $0.20 by $0.06. The company had revenue of $164.35 million during 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%. On average, equities analysts expect that Paramount Resources Ltd. will post 1.06 EPS 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.