Paramount Resources (OTCMKTS:PRMRF) Upgraded at Zacks Research

Zacks Research upgraded shares of Paramount Resources (OTCMKTS:PRMRF) to a hold rating in a report released on Thursday morning,Zacks.com reports.

Several other brokerages have also recently issued reports on PRMRF. Raymond James Financial upgraded shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a research report on Thursday, January 15th. Roth Mkm raised Paramount Resources to a “strong-buy” rating in a research report on Wednesday. Scotiabank reiterated an “outperform” rating on shares of Paramount Resources in a report on Wednesday, January 21st. ATB Cormark Capital Markets lowered Paramount Resources from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, March 3rd. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Paramount Resources in a research note on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Paramount Resources presently has a consensus rating of “Moderate Buy”.

Paramount Resources Stock Performance

Shares of PRMRF stock opened at $21.61 on Thursday. The firm’s 50-day moving average is $18.35 and its 200-day moving average is $17.03. The stock has a market cap of $3.12 billion, a price-to-earnings ratio of 3.55 and a beta of 0.70. Paramount Resources has a 52-week low of $10.28 and a 52-week high of $22.05.

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