Paramount Resources (OTCMKTS:PRMRF) Announces Earnings Results, Misses Estimates By $0.17 EPS

Paramount Resources (OTCMKTS:PRMRF) released its quarterly earnings results on Thursday. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.17), Zacks reports. Paramount Resources had a return on equity of 4.31% and a net margin of 12.52%.

Paramount Resources Stock Down 3.2%

Shares of Paramount Resources stock traded down $0.76 during trading hours on Thursday, reaching $22.71. 41,658 shares of the company’s stock were exchanged, compared to its average volume of 201,130. Paramount Resources has a 1 year low of $15.60 and a 1 year high of $25.24. The company has a market capitalization of $3.32 billion, a P/E ratio of 39.84 and a beta of 0.81. The business has a fifty day moving average of $22.94 and a two-hundred day moving average of $21.32.

Analyst Ratings Changes

Several research analysts have recently weighed in on PRMRF shares. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Paramount Resources in a research note on Friday, August 7th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Paramount Resources in a research note on Friday, October 9th. Scotiabank reissued a “sector perform” rating on shares of Paramount Resources in a research note on Monday, October 19th. Raymond James Financial reissued an “outperform” rating on shares of Paramount Resources in a report on Wednesday, September 16th. Finally, Zacks Research upgraded shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 26th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Paramount Resources currently has a consensus rating of “Buy”.

About Paramount Resources

Paramount Resources Ltd. is a Canadian energy company engaged in the exploration, development and production of crude oil, natural gas, condensate and natural gas liquids. The company focuses on developing petroleum and natural gas resources in western Canada.

Paramount’s operations are concentrated in Alberta, including the Grande Prairie and Kaybob areas. Its activities generally include drilling wells, developing and operating production infrastructure, and processing and marketing hydrocarbons produced from its resource properties.

Founded in 1976, Paramount Resources has grown into an established Canadian exploration and production company.