Paramount Resources (OTCMKTS:PRMRF) Stock Moved Down to “Hold” by Zacks Research

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

A number of other research firms also recently weighed in on PRMRF. Scotiabank upgraded Paramount Resources from a “hold” rating to a “strong-buy” rating in a research report on Monday. Raymond James Financial restated an “outperform” rating on shares of Paramount Resources in a research report on Wednesday, September 16th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Paramount Resources in a research note on Friday, October 9th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Paramount Resources in a research report on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy”.

Paramount Resources Trading Up 3.1%

OTCMKTS PRMRF opened at $22.58 on Monday. Paramount Resources has a 1-year low of $15.60 and a 1-year high of $25.24. The company has a 50 day moving average of $22.91 and a 200-day moving average of $21.42. The company has a market cap of $3.30 billion, a price-to-earnings ratio of -17.24 and a beta of 0.81.

Paramount Resources (OTCMKTS:PRMRF) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.17). The company had revenue of $277.70 million for the quarter, compared to analyst estimates of $165.04 million. Paramount Resources had a positive return on equity of 5.02% and a negative net margin of 24.64%. On average, equities research analysts forecast that Paramount Resources will post -0.70 earnings per share for the current year.

Paramount Resources Company Profile

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.