Paramount Resources (OTCMKTS:PRMRF) Upgraded to “Strong-Buy” at Zacks Research

Paramount Resources (OTCMKTS:PRMRF) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other equities research analysts also recently issued reports on the stock. ATB Cormark Capital Markets downgraded shares of Paramount Resources from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, March 3rd. Roth Mkm upgraded shares of Paramount Resources to a “strong-buy” rating in a research note on Wednesday, March 4th. Raymond James Financial upgraded shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a research note on Thursday, January 15th. Jefferies Financial Group reiterated a “buy” rating on shares of Paramount Resources in a research note on Tuesday. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Paramount Resources in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy”.

Paramount Resources Price Performance

Shares of OTCMKTS PRMRF opened at $22.33 on Tuesday. The stock has a market capitalization of $3.24 billion, a price-to-earnings ratio of 85.89 and a beta of 0.64. The business has a 50-day moving average of $21.15 and a 200-day moving average of $18.88. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.77 and a quick ratio of 3.77. Paramount Resources has a fifty-two week low of $13.03 and a fifty-two week high of $23.06.

Paramount Resources (OTCMKTS:PRMRF) last issued its earnings results on Tuesday, May 12th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.06. Paramount Resources had a net margin of 6.65% and a return on equity of 2.00%. The business had revenue of $164.35 million during the quarter, compared to the consensus estimate of $119.34 million. As a group, sell-side analysts predict that Paramount Resources will post 0.71 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.