Paramount Resources Ltd. (PRMRF) - What Are Researchers Saying About This Stock?

Key Points

• Analyst sentiment is moderately bullish: Eight brokerages give Paramount Resources an average “Moderate Buy” rating, with four buys, one strong buy, and three holds.
• Quarterly results exceeded expectations: Paramount reported earnings of $0.33 per share versus the $0.28 consensus estimate, while revenue reached $183.53 million, ahead of the $151.36 million forecast.
• The stock is trading near its 12-month high: PRMRF opened at $23.76, compared with a 12-month range of $15.43 to $24.25, and has a market capitalization of approximately $3.47 billion.

Shares of Paramount Resources Ltd. (OTCMKTS:PRMRF - Get Free Report) have been given an average recommendation of "Moderate Buy" by the eight brokerages that are covering the company, MarketBeat reports. Three analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company.

A number of analysts have recently weighed in on the stock. Scotiabank reiterated a "sector perform" rating on shares of Paramount Resources in a report on Friday, August 7th. Raymond James Financial reaffirmed an "outperform" rating on shares of Paramount Resources in a research report on Wednesday, September 16th. Zacks Research lowered Paramount Resources from a "strong-buy" rating to a "hold" rating in a research 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. Finally, Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of Paramount Resources in a research report on Friday, October 9th.

Paramount Resources Stock Up 1.5%

Shares of PRMRF opened at $23.76 on Friday. The stock has a market capitalization of $3.47 billion, a P/E ratio of 41.68 and a beta of 0.87. The firm has a fifty day simple moving average of $22.52 and a two-hundred day simple moving average of $21.53. Paramount Resources has a twelve month low of $15.43 and a twelve month high of $24.25.

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

Paramount Resources Company Profile

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

Paramount's principal operating areas have included the Grande Prairie and Kaybob regions, where it holds prospective oil and liquids-rich natural gas properties. Its activities include drilling and completing wells, operating production facilities, and managing infrastructure used to gather and process hydrocarbons.

Founded in 1978, Paramount Resources has grown through exploration, development and strategic acquisitions, including the purchase of Apache Corporation's Canadian oil and gas assets in 2017.

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