Paramount Resources (OTCMKTS:PRMRF) Releases Earnings Results, Beats Expectations By $0.05 EPS

Paramount Resources (OTCMKTS:PRMRF) posted its quarterly earnings results on Thursday. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.05, Zacks reports. Paramount Resources had a net margin of 6.65% and a return on equity of 1.98%. The firm had revenue of $183.53 million for the quarter, compared to the consensus estimate of $151.36 million.

Paramount Resources Stock Up 8.0%

Shares of Paramount Resources stock opened at $21.61 on Friday. The firm has a market cap of $3.15 billion, a PE ratio of 83.13 and a beta of 0.63. Paramount Resources has a 52 week low of $13.24 and a 52 week high of $24.25. The business’s fifty day simple moving average is $20.57 and its 200-day simple moving average is $20.56.

Wall Street Analyst Weigh In

PRMRF has been the topic of several recent research reports. Royal Bank Of Canada restated a “sector perform” rating on shares of Paramount Resources in a report on Wednesday, May 13th. Zacks Research downgraded Paramount Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Paramount Resources in a research note on Friday, July 10th. Scotiabank restated a “sector perform” rating on shares of Paramount Resources in a report on Friday, July 17th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Paramount Resources in a research note on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus 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.