Paramount Resources (OTCMKTS:PRMRF) Stock Moved Down to “Hold” by Zacks Research

Paramount Resources (OTCMKTS:PRMRF) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, Zacks reports.

Several other equities analysts have also recently commented on the company. Royal Bank Of Canada restated a “sector perform” rating on shares of Paramount Resources in a research report on Friday, August 7th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Paramount Resources in a research note on Friday, October 9th. Raymond James Financial reaffirmed an “outperform” rating on shares of Paramount Resources in a report on Wednesday, September 16th. Finally, Scotiabank upgraded Paramount Resources from a “hold” rating to a “strong-buy” rating in a research report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Paramount Resources has a consensus rating of “Buy”.

Paramount Resources Price Performance

PRMRF opened at $22.58 on Monday. The company has a fifty day moving average price of $22.91 and a 200-day moving average price of $21.42. The firm has a market capitalization of $3.30 billion, a P/E ratio of -17.24 and a beta of 0.81. Paramount Resources has a one year low of $15.60 and a one year high of $25.24.

Paramount Resources (OTCMKTS:PRMRF) last released its quarterly earnings results on Thursday, November 5th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.17). Paramount Resources had a positive return on equity of 5.02% and a negative net margin of 24.64%. The firm had revenue of $277.70 million during the quarter, compared to the consensus estimate of $165.04 million. On average, analysts expect that Paramount Resources will post -0.70 earnings per share for the current year.

About Paramount Resources

Paramount Resources Ltd. is a Canadian energy company focused on the exploration, development and production of natural gas, crude oil and natural gas liquids. Its operations also include infrastructure that supports the gathering and processing of its production. The company’s activities are concentrated in Western Canada, particularly in Alberta and British Columbia, where it develops resources in areas including the Montney, Deep Basin and Duvernay. Paramount traces its history to 1976 and is headquartered in Calgary, Alberta.