Paramount Resources (OTCMKTS:PRMRF) Rating Increased to Hold at Zacks Research

Paramount Resources (OTCMKTS:PRMRF) was upgraded by investment analysts at Zacks Research to a “hold” rating in a report released on Thursday,Zacks.com reports.

Several other equities analysts also recently issued reports on PRMRF. Scotiabank reaffirmed an “outperform” rating on shares of Paramount Resources in a report on Wednesday, January 21st. ATB Cormark Capital Markets lowered shares of Paramount Resources from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Paramount Resources in a report on Wednesday, November 5th. Roth Mkm raised Paramount Resources to a “strong-buy” rating in a research report on Wednesday. Finally, Raymond James Financial upgraded Paramount Resources from a “hold” rating to a “moderate buy” rating in a research note on Thursday, January 15th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Paramount Resources Price Performance

OTCMKTS:PRMRF opened at $21.61 on Thursday. The firm has a market capitalization of $3.12 billion, a P/E ratio of 3.55 and a beta of 0.70. The company’s fifty day moving average price is $18.35 and its 200-day moving average price is $17.02. Paramount Resources has a 1-year low of $10.28 and a 1-year high of $22.05.

Paramount Resources (OTCMKTS:PRMRF) last issued its earnings results on Tuesday, March 3rd. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.17). The company had revenue of $144.55 million during the quarter, compared to analysts’ expectations of $137.63 million. Paramount Resources had a return on equity of 1.54% and a net margin of 149.02%. Equities analysts anticipate that Paramount Resources will post 1.74 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.