Paramount Resources (OTCMKTS:PRMRF) Releases Earnings Results, Misses Expectations By $0.17 EPS

Paramount Resources (OTCMKTS:PRMRF) released its quarterly earnings results on Thursday. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.17), Zacks reports. Paramount Resources had a return on equity of 4.31% and a net margin of 12.52%.

Paramount Resources Stock Down 3.2%

Shares of OTCMKTS:PRMRF traded down $0.76 on Thursday, reaching $22.71. 41,658 shares of the company’s stock were exchanged, compared to its average volume of 353,261. The firm has a market capitalization of $3.32 billion, a price-to-earnings ratio of 41.17 and a beta of 0.81. Paramount Resources has a fifty-two week low of $15.60 and a fifty-two week high of $25.24. The business’s 50-day moving average is $22.93 and its two-hundred day moving average is $21.34.

Analyst Upgrades and Downgrades

PRMRF has been the subject of a number of recent analyst reports. Scotiabank restated a “sector perform” rating on shares of Paramount Resources in a research note on Monday, October 19th. Raymond James Financial reaffirmed an “outperform” rating on shares of Paramount Resources in a research report on Wednesday, September 16th. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Paramount Resources in a research note on Friday, August 7th. Zacks Research raised shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 26th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Paramount Resources in a research report on Friday, October 9th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy”.

Paramount Resources Company Profile

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.