Paramount Resources (OTCMKTS:PRMRF – Get Free Report) posted its quarterly earnings data on Tuesday. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.17), Zacks reports. Paramount Resources had a net margin of 129.12% and a return on equity of 4.42%. The business had revenue of $144.55 million during the quarter, compared to the consensus estimate of $137.63 million.
Paramount Resources Stock Up 9.4%
Shares of PRMRF traded up $1.88 during midday trading on Wednesday, hitting $21.87. The company’s stock had a trading volume of 2,350 shares, compared to its average volume of 14,400. Paramount Resources has a one year low of $9.89 and a one year high of $21.87. The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of 3.35 and a beta of 0.70. The company’s fifty day simple moving average is $18.13 and its two-hundred day simple moving average is $16.90.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on PRMRF shares. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Paramount Resources in a research report on Wednesday, November 5th. Scotiabank reissued an “outperform” rating on shares of Paramount Resources in a report on Wednesday, January 21st. Finally, Raymond James Financial upgraded Paramount Resources from a “hold” rating to a “moderate buy” rating in a research report on Thursday, January 15th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently 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.
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