Paramount Resources (OTCMKTS:PRMRF) Cut to Hold at Zacks Research

Paramount Resources (OTCMKTS:PRMRF) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday, Zacks reports.

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

Paramount Resources Stock Performance

PRMRF stock opened at $22.58 on Monday. The company has a market capitalization of $3.30 billion, a PE ratio of -17.24 and a beta of 0.81. Paramount Resources has a one year low of $15.60 and a one year high of $25.24. The company’s 50 day moving average price is $22.91 and its two-hundred day moving average price is $21.42.

Paramount Resources (OTCMKTS:PRMRF) last announced its quarterly earnings data 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). Paramount Resources had a negative net margin of 24.64% and a positive return on equity of 5.02%. The business had revenue of $277.70 million during the quarter, compared to analysts’ expectations of $165.04 million. On average, research analysts predict that Paramount Resources will post -0.70 EPS 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.