Paramount Resources Ltd. (OTCMKTS:PRMRF) Given Consensus Recommendation of “Buy” by Brokerages

Paramount Resources Ltd. (OTCMKTS:PRMRF) has been assigned a consensus recommendation of “Buy” from the nine analysts that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation, five have given a buy recommendation and two have given a strong buy recommendation to the company.

PRMRF has been the topic of a number of research reports. Zacks Research raised shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Paramount Resources in a research report on Tuesday, May 12th. Roth Mkm upgraded shares of Paramount Resources to a “strong-buy” rating in a research note on Wednesday, March 4th. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Paramount Resources in a research note on Wednesday, May 13th. Finally, ATB Cormark Capital Markets lowered shares of Paramount Resources from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, March 3rd.

Paramount Resources Stock Performance

OTCMKTS PRMRF opened at $21.07 on Friday. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of 81.04 and a beta of 0.62. The company’s 50-day simple moving average is $21.63 and its two-hundred day simple moving average is $19.79. Paramount Resources has a one year low of $13.24 and a one year high of $24.25.

Paramount Resources (OTCMKTS:PRMRF) last posted its 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 business had revenue of $164.35 million for the quarter, compared to the consensus estimate of $119.34 million. Paramount Resources had a net margin of 6.65% and a return on equity of 1.98%. Equities analysts expect that Paramount Resources will post 1.06 earnings per share for the current fiscal 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.