Paramount Resources (OTCMKTS:PRMRF) Posts Quarterly Earnings Results, Misses Estimates By $0.17 EPS

Paramount Resources (OTCMKTS:PRMRF) posted its quarterly earnings results on Thursday. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.17), Zacks reports. Paramount Resources had a net margin of 12.52% and a return on equity of 4.31%.

Paramount Resources Stock Performance

Shares of OTCMKTS PRMRF traded down $0.76 during midday trading on Thursday, reaching $22.71. 41,658 shares of the stock were exchanged, compared to its average volume of 201,130. The stock has a market capitalization of $3.32 billion, a P/E ratio of 39.84 and a beta of 0.81. The company has a 50 day simple moving average of $22.94 and a 200 day simple moving average of $21.32. Paramount Resources has a twelve month low of $15.60 and a twelve month high of $25.24.

Analysts Set New Price Targets

A number of research firms have weighed in on PRMRF. Scotiabank reissued a “sector perform” rating on shares of Paramount Resources in a research note on Monday, October 19th. Raymond James Financial reaffirmed an “outperform” rating on shares of Paramount Resources in a research note on Wednesday, September 16th. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Paramount Resources in a report on Friday, August 7th. Zacks Research raised shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 26th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Paramount Resources in a research report on Friday, October 9th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Buy”.

About Paramount Resources

Paramount Resources Ltd. is a Canadian energy company engaged in the exploration, development and production of crude oil, natural gas, condensate and natural gas liquids. The company focuses on developing petroleum and natural gas resources in western Canada.

Paramount’s operations are concentrated in Alberta, including the Grande Prairie and Kaybob areas. Its activities generally include drilling wells, developing and operating production infrastructure, and processing and marketing hydrocarbons produced from its resource properties.

Founded in 1976, Paramount Resources has grown into an established Canadian exploration and production company.