Paramount Resources Ltd. (OTCMKTS:PRMRF) Given Consensus Recommendation of “Buy” by Analysts

Shares of Paramount Resources Ltd. (OTCMKTS:PRMRF) have earned an average recommendation of “Buy” from the nine ratings firms that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and two have assigned a strong buy recommendation to the company.

Several research firms have recently issued reports on PRMRF. Roth Mkm upgraded shares of Paramount Resources to a “strong-buy” rating in a report on Wednesday, March 4th. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Paramount Resources in a report on Wednesday, May 13th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Paramount Resources in a report on Wednesday, May 13th. Zacks Research upgraded shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Finally, ATB Cormark Capital Markets lowered shares of Paramount Resources from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, March 3rd.

Paramount Resources Trading Down 1.7%

Paramount Resources stock opened at $21.07 on Friday. The firm has a 50-day moving average price of $21.63 and a 200-day moving average price of $19.79. The firm has a market capitalization of $3.06 billion, a PE ratio of 81.04 and a beta of 0.62. Paramount Resources has a 12-month low of $13.24 and a 12-month high of $24.25.

Paramount Resources (OTCMKTS:PRMRF) last released its earnings results on Tuesday, May 12th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.06. The firm had revenue of $164.35 million during the quarter, compared to analyst estimates of $119.34 million. Paramount Resources had a net margin of 6.65% and a return on equity of 1.98%. As a group, sell-side analysts predict that Paramount Resources will post 1.06 earnings per share for the current fiscal year.

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.