Paramount Resources Ltd. (OTCMKTS:PRMRF) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Paramount Resources Ltd. (OTCMKTS:PRMRF) have earned a consensus rating of “Moderate Buy” from the nine research firms that are presently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and two have given a strong buy recommendation to the company.

A number of analysts have weighed in on the stock. Jefferies Financial Group reissued a “buy” rating on shares of Paramount Resources in a research report on Tuesday, May 12th. Zacks Research upgraded shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Scotiabank raised shares of Paramount Resources to a “hold” rating in a research note on Friday, June 26th. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Paramount Resources in a research report on Wednesday, May 13th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Paramount Resources in a research note on Wednesday, May 13th.

Paramount Resources Trading Up 4.6%

Shares of PRMRF opened at $20.27 on Wednesday. The stock’s 50-day moving average price is $21.45 and its two-hundred day moving average price is $20.02. Paramount Resources has a 12 month low of $13.24 and a 12 month high of $24.25. The company has a market capitalization of $2.96 billion, a PE ratio of 77.96 and a beta of 0.63.

Paramount Resources (OTCMKTS:PRMRF) last issued its quarterly earnings results on Tuesday, May 12th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.06. Paramount Resources had a return on equity of 1.98% and a net margin of 6.65%.The company had revenue of $164.34 million during the quarter, compared to analysts’ expectations of $119.34 million. Equities research analysts predict that Paramount Resources 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.