Paramount Resources Ltd. (OTCMKTS:PRMRF) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Paramount Resources Ltd. (OTCMKTS:PRMRF) have been given a consensus rating of “Moderate Buy” by the nine research firms that are currently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company.

Several brokerages have weighed in on PRMRF. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Paramount Resources in a research report on Friday, July 10th. Scotiabank reaffirmed a “sector perform” rating on shares of Paramount Resources in a research note on Friday, August 7th. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Paramount Resources in a report on Friday, August 7th. Jefferies Financial Group reissued a “buy” rating on shares of Paramount Resources in a research report on Tuesday, May 12th. Finally, Zacks Research cut Paramount Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th.

Paramount Resources Stock Up 0.3%

OTCMKTS PRMRF opened at $22.84 on Thursday. The stock’s 50-day simple moving average is $20.96 and its two-hundred day simple moving average is $21.03. Paramount Resources has a twelve month low of $14.21 and a twelve month high of $24.25. The company has a market capitalization of $3.33 billion, a price-to-earnings ratio of 40.08 and a beta of 0.63.

Paramount Resources (OTCMKTS:PRMRF) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.28 by $0.05. Paramount Resources had a return on equity of 4.33% and a net margin of 12.52%.The firm had revenue of $183.53 million for the quarter, compared to analyst estimates of $151.36 million. On average, equities analysts expect that Paramount Resources will post 1.08 earnings per share for the current fiscal year.

About Paramount Resources

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.