Paramount Resources (OTCMKTS:PRMRF) Upgraded to Strong-Buy at Scotiabank

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

A number of other research analysts also recently commented on the stock. Zacks Research raised shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 26th. Raymond James Financial reaffirmed an “outperform” rating on shares of Paramount Resources in a report on Wednesday, September 16th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Paramount Resources in a report on Friday, October 9th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating on shares of Paramount Resources in a research note on Friday, August 7th. Three analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy”.

Paramount Resources Stock Down 1.1%

Shares of Paramount Resources stock opened at $21.91 on Monday. The stock has a market cap of $3.20 billion, a P/E ratio of -16.73 and a beta of 0.81. Paramount Resources has a 12-month low of $15.60 and a 12-month high of $25.24. The business’s 50 day moving average is $22.91 and its 200-day moving average is $21.39.

Paramount Resources (OTCMKTS:PRMRF) last released its earnings results on Thursday, November 5th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.17). The firm had revenue of $277.70 million during the quarter, compared to the consensus estimate of $165.04 million. Paramount Resources had a net margin of 12.52% and a return on equity of 4.31%. On average, sell-side analysts expect that Paramount Resources will post 1.28 EPS for the current year.

About Paramount Resources

Paramount Resources Ltd. is a Canadian energy company focused on the exploration, development and production of natural gas, crude oil and natural gas liquids. Its operations also include infrastructure that supports the gathering and processing of its production.

The company’s activities are concentrated in Western Canada, particularly in Alberta and British Columbia, where it develops resources in areas including the Montney, Deep Basin and Duvernay. Paramount traces its history to 1976 and is headquartered in Calgary, Alberta.

Paramount is led by President and Chief Executive Officer James Riddell.