Paramount Resources Ltd. (OTCMKTS:PRMRF) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Paramount Resources has a “Moderate Buy” consensus rating from nine brokerages: four rate it a hold, four recommend buying, and one gives it a strong-buy rating.
• The company’s latest quarterly results exceeded expectations, with earnings per share of $0.33 versus the $0.28 estimate and revenue of $183.53 million versus $151.36 million expected.
• Shares opened at $22.96, near their 52-week high of $24.25, with a market capitalization of approximately $3.35 billion.

Shares of Paramount Resources Ltd. (OTCMKTS:PRMRF - Get Free Report) have been given a consensus rating of "Moderate Buy" by the nine brokerages that are covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company.

A number of research analysts have recently weighed in on PRMRF shares. Scotiabank restated a "sector perform" rating on shares of Paramount Resources in a report on Friday, August 7th. Zacks Research cut shares of Paramount Resources from a "strong-buy" rating to a "hold" rating in a report on Monday, July 13th. Royal Bank Of Canada reissued a "sector perform" rating on shares of Paramount Resources in a research report on Friday, August 7th. Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of Paramount Resources in a report on Friday, July 10th. Finally, Raymond James Financial reaffirmed an "outperform" rating on shares of Paramount Resources in a research report on Wednesday.

Paramount Resources Stock Performance

OTCMKTS:PRMRF opened at $22.96 on Monday. The stock's 50 day moving average price is $22.11 and its 200 day moving average price is $21.51. Paramount Resources has a 52 week low of $14.68 and a 52 week high of $24.25. The company has a market capitalization of $3.35 billion, a P/E ratio of 40.28 and a beta of 0.67.

Paramount Resources (OTCMKTS:PRMRF - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.05. The firm had revenue of $183.53 million for the quarter, compared to analyst estimates of $151.36 million. Paramount Resources had a net margin of 12.52% and a return on equity of 4.31%. As a group, sell-side analysts forecast that Paramount Resources will post 1.08 earnings per share for the current fiscal year.

About Paramount Resources

Paramount Resources Ltd. is a Canadian energy company engaged in the exploration, development and production of crude oil, condensate, natural gas and natural gas liquids. The company's activities are focused on developing long-life, liquids-rich resource opportunities and related petroleum infrastructure.

Paramount's operations are concentrated in Alberta, particularly in the Grande Prairie and Kaybob areas. Its asset base includes interests in several of Western Canada's unconventional oil and natural gas plays, supported by drilling, completion, processing and transportation activities.

Headquartered in Calgary, Alberta, Paramount was founded in 1978 by Clayton Riddell and has grown into one of Canada's notable publicly traded exploration and production companies.

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