Paramount Resources (OTCMKTS:PRMRF) Shares Cross Above Fifty Day Moving Average – Time to Sell?

Shares of Paramount Resources Ltd. (OTCMKTS:PRMRF) crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $20.80 and traded as high as $23.85. Paramount Resources shares last traded at $23.84, with a volume of 20,512 shares.

Analyst Ratings Changes

A number of analysts have recently commented on PRMRF shares. Jefferies Financial Group restated a “buy” rating on shares of Paramount Resources in a research report on Tuesday, May 12th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Paramount Resources in a research report on Friday, July 10th. Zacks Research downgraded shares of Paramount Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Scotiabank restated a “sector perform” rating on shares of Paramount Resources in a research report on Friday, August 7th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Paramount Resources in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Paramount Resources currently has an average rating of “Moderate Buy”.

Paramount Resources Trading Up 1.1%

The company has a market capitalization of $3.48 billion, a PE ratio of 41.82 and a beta of 0.63. The company has a fifty day simple moving average of $20.80 and a 200-day simple moving average of $20.92.

Paramount Resources (OTCMKTS:PRMRF) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.28 by $0.05. The business had revenue of $183.53 million for the quarter, compared to analyst estimates of $151.36 million. Paramount Resources had a return on equity of 4.33% and a net margin of 12.52%. On average, equities analysts predict that Paramount Resources Ltd. will post 1.08 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.