Paramount Resources (OTCMKTS:PRMRF) Sees Unusually-High Trading Volume – Here’s Why

Paramount Resources Ltd. (OTCMKTS:PRMRF) shares saw unusually-strong trading volume on Friday . Approximately 24,489 shares were traded during mid-day trading, an increase of 57% from the previous session’s volume of 15,585 shares.The stock last traded at $21.72 and had previously closed at $21.88.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PRMRF shares. Zacks Research raised shares of Paramount Resources to a “hold” rating in a research report on Thursday, March 5th. ATB Cormark Capital Markets cut shares of Paramount Resources from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, March 3rd. Roth Mkm raised Paramount Resources to a “strong-buy” rating in a report on Wednesday, March 4th. 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 reaffirmed an “outperform” rating on shares of Paramount Resources in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

Paramount Resources Price Performance

The stock’s fifty day simple moving average is $19.28 and its two-hundred day simple moving average is $17.53. The company has a market capitalization of $3.16 billion, a price-to-earnings ratio of 3.59 and a beta of 0.70.

Paramount Resources (OTCMKTS:PRMRF) last posted its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.16 by ($0.17). The business had revenue of $144.55 million during the quarter, compared to analyst estimates of $137.63 million. Paramount Resources had a net margin of 149.02% and a return on equity of 1.54%. On average, sell-side analysts predict that Paramount Resources Ltd. will post 1.74 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.