Paramount Resources (OTCMKTS:PRMRF) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Paramount Resources (OTCMKTS:PRMRF) announced its earnings results on Thursday. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.05, Zacks reports. Paramount Resources had a return on equity of 1.98% and a net margin of 6.65%.

Paramount Resources Stock Up 8.0%

Shares of Paramount Resources stock traded up $1.60 on Thursday, reaching $21.61. The company’s stock had a trading volume of 73,684 shares, compared to its average volume of 135,796. Paramount Resources has a 52 week low of $13.24 and a 52 week high of $24.25. The firm’s fifty day simple moving average is $20.59 and its two-hundred day simple moving average is $20.53. The company has a market capitalization of $3.15 billion, a price-to-earnings ratio of 83.13 and a beta of 0.63.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PRMRF shares. Jefferies Financial Group reiterated a “buy” rating on shares of Paramount Resources in a research report on Tuesday, May 12th. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Paramount Resources in a report on Wednesday, May 13th. Scotiabank restated a “sector perform” rating on shares of Paramount Resources in a research note on Friday, July 17th. Zacks Research cut shares of Paramount Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Paramount Resources in a research report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Paramount Resources 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.