Paramount Resources (OTCMKTS:PRMRF) Hits New 52-Week High After Analyst Upgrade

Paramount Resources Ltd. (OTCMKTS:PRMRF)’s stock price hit a new 52-week high during mid-day trading on Thursday after Roth Mkm upgraded the stock to a strong-buy rating. The company traded as high as $21.8720 and last traded at $21.66, with a volume of 45609 shares changing hands. The stock had previously closed at $21.4930.

PRMRF has been the topic of a number of other research reports. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Paramount Resources in a research note on Wednesday, November 5th. Raymond James Financial upgraded Paramount Resources from a “hold” rating to a “moderate buy” rating in a research note on Thursday, January 15th. Finally, Scotiabank reissued an “outperform” rating on shares of Paramount Resources in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Paramount Resources Stock Up 0.5%

The stock has a fifty day simple moving average of $18.35 and a 200 day simple moving average of $17.02. The firm has a market capitalization of $3.12 billion, a P/E ratio of 3.55 and a beta of 0.70.

Paramount Resources (OTCMKTS:PRMRF) last released its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.17). Paramount Resources had a return on equity of 1.54% and a net margin of 149.02%.The business had revenue of $144.55 million during the quarter, compared to the consensus estimate of $137.63 million. Research analysts anticipate that Paramount Resources Ltd. will post 1.74 earnings per share for the current fiscal 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.