Paramount Resources (OTCMKTS:PRMRF) Sets New 52-Week High – Here’s What Happened

Paramount Resources Ltd. (OTCMKTS:PRMRF)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $24.21 and last traded at $24.17, with a volume of 18538 shares trading hands. The stock had previously closed at $23.57.

Analyst Ratings Changes

A number of research firms recently weighed in on PRMRF. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Paramount Resources in a research note on Wednesday, May 13th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Paramount Resources in a research note on Tuesday, May 12th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Paramount Resources in a research note on Wednesday, May 13th. ATB Cormark Capital Markets downgraded 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 research note on Wednesday, March 4th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy”.

Paramount Resources Trading Up 0.2%

The business has a 50 day moving average of $21.38 and a two-hundred day moving average of $19.19. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.77 and a current ratio of 3.77. The firm has a market capitalization of $3.46 billion, a price-to-earnings ratio of 91.65 and a beta of 0.64.

Paramount Resources (OTCMKTS:PRMRF) last issued its quarterly earnings data on Tuesday, May 12th. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.06. The firm had revenue of $164.35 million during the quarter, compared to analyst estimates of $119.34 million. Paramount Resources had a return on equity of 2.00% and a net margin of 6.65%. Equities analysts predict that Paramount Resources Ltd. will post 1.06 EPS for the current 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.