Paramount Resources (OTCMKTS:PRMRF) Hits New 1-Year High – Here’s What Happened

Paramount Resources Ltd. (OTCMKTS:PRMRF) hit a new 52-week high on Thursday . The stock traded as high as $19.4140 and last traded at $19.16, with a volume of 1915 shares. The stock had previously closed at $18.48.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Raymond James Financial upgraded shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a research report on Thursday, January 15th. Scotiabank reiterated an “outperform” rating on shares of Paramount Resources in a research note on Wednesday, January 21st. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Paramount Resources in a report on Wednesday, November 5th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Paramount Resources has an average rating of “Moderate Buy”.

Paramount Resources Trading Down 0.9%

The stock has a market capitalization of $2.76 billion, a PE ratio of 2.93 and a beta of 0.80. The firm has a 50 day moving average of $17.83 and a two-hundred day moving average of $16.64.

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.