Paramount Resources (OTCMKTS:PRMRF) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of Paramount Resources (OTCMKTS:PRMRF) from a hold rating to a strong-buy rating in a research report report published on Monday morning,Zacks reports.

Other equities research analysts have also recently issued research reports about the company. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Paramount Resources in a research report on Friday, October 9th. Raymond James Financial reaffirmed an “outperform” rating on shares of Paramount Resources in a report on Wednesday, September 16th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Paramount Resources in a report on Friday, August 7th. Finally, Scotiabank reiterated a “sector perform” rating on shares of Paramount Resources in a research note on Monday, October 19th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy”.

Paramount Resources Trading Down 0.6%

PRMRF opened at $24.74 on Monday. The stock has a 50-day moving average of $22.82 and a 200-day moving average of $21.08. Paramount Resources has a 52-week low of $15.43 and a 52-week high of $25.24.

Paramount Resources (OTCMKTS:PRMRF) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.05. The company had revenue of $183.53 million for the quarter, compared to analyst estimates of $151.36 million. As a group, equities research analysts forecast that Paramount Resources will post 1.28 earnings per share for the current year.

About Paramount Resources

Paramount Resources Ltd. is a Canadian energy company engaged in the exploration, development and production of crude oil, natural gas, condensate and natural gas liquids. The company focuses on developing petroleum and natural gas resources in western Canada.

Paramount’s operations are concentrated in Alberta, including the Grande Prairie and Kaybob areas. Its activities generally include drilling wells, developing and operating production infrastructure, and processing and marketing hydrocarbons produced from its resource properties.

Founded in 1976, Paramount Resources has grown into an established Canadian exploration and production company.