Paramount Resources (OTCMKTS:PRMRF) Issues Earnings Results, Beats Estimates By $0.05 EPS

Paramount Resources (OTCMKTS:PRMRF) issued its quarterly earnings data on Thursday. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.05, Zacks reports. Paramount Resources had a net margin of 6.65% and a return on equity of 1.98%.

Paramount Resources Trading Up 8.0%

PRMRF traded up $1.60 during trading hours on Thursday, hitting $21.61. The company’s stock had a trading volume of 73,684 shares, compared to its average volume of 135,796. Paramount Resources has a 12 month low of $13.24 and a 12 month high of $24.25. The business’s 50-day moving average price is $20.59 and its 200-day moving average price is $20.53. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of 83.13 and a beta of 0.63.

Analysts Set New Price Targets

PRMRF has been the subject of a number of research reports. Zacks Research lowered shares of Paramount Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Paramount Resources in a report on Friday, July 10th. Jefferies Financial Group reissued a “buy” rating on shares of Paramount Resources in a report on Tuesday, May 12th. Royal Bank Of Canada restated a “sector perform” rating on shares of Paramount Resources in a research note on Wednesday, May 13th. Finally, Scotiabank reaffirmed a “sector perform” rating on shares of Paramount Resources in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy”.

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.