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

Paramount Resources Ltd. (OTCMKTS:PRMRF) has earned a consensus recommendation of “Buy” from the nine brokerages that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and two have assigned a strong buy recommendation to the company.

A number of brokerages recently weighed in on PRMRF. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Paramount Resources in a research note on Wednesday, May 13th. Roth Mkm upgraded shares of Paramount Resources to a “strong-buy” rating in a research note on Wednesday, March 4th. Zacks Research upgraded shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Jefferies Financial Group reiterated a “buy” rating on shares of Paramount Resources in a research note on Tuesday, May 12th. Finally, ATB Cormark Capital Markets cut shares of Paramount Resources from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, March 3rd.

Paramount Resources Price Performance

Shares of OTCMKTS:PRMRF opened at $23.94 on Tuesday. The stock has a market cap of $3.48 billion, a P/E ratio of 92.09 and a beta of 0.64. The firm has a fifty day moving average price of $21.47 and a 200 day moving average price of $19.30. 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 1-year low of $13.24 and a 1-year high of $24.25.

Paramount Resources (OTCMKTS:PRMRF) last issued its quarterly earnings results on Tuesday, May 12th. The company reported $0.26 earnings per share 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 analysts’ expectations of $119.34 million. Paramount Resources had a net margin of 6.65% and a return on equity of 2.00%. Sell-side analysts predict that Paramount Resources will post 1.06 EPS for the current year.

Paramount Resources Company Profile

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.