Paramount Resources (OTCMKTS:PRMRF) Issues Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Paramount Resources (OTCMKTS:PRMRF) released its quarterly earnings results on Tuesday. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06, Zacks reports. Paramount Resources had a net margin of 149.02% and a return on equity of 1.53%.

Paramount Resources Trading Up 3.9%

OTCMKTS PRMRF traded up $0.84 on Tuesday, reaching $22.19. The company had a trading volume of 10,287 shares, compared to its average volume of 16,267. Paramount Resources has a 52 week low of $12.57 and a 52 week high of $23.06. The stock’s 50 day moving average is $21.04 and its 200-day moving average is $18.79. The company has a quick ratio of 3.77, a current ratio of 3.77 and a debt-to-equity ratio of 0.10. The stock has a market cap of $3.22 billion, a price-to-earnings ratio of 3.64 and a beta of 0.64.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PRMRF. 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. Zacks Research raised Paramount Resources to a “hold” rating in a report on Thursday, March 5th. Scotiabank reissued an “outperform” rating on shares of Paramount Resources in a research note on Wednesday, January 21st. ATB Cormark Capital Markets lowered Paramount Resources from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, March 3rd. Finally, Roth Mkm raised Paramount Resources to a “strong-buy” rating in a report on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy”.

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.