Paramount Resources (OTCMKTS:PRMRF) Sets New 52-Week High - Time to Buy?

Key Points

• Shares hit a new 52-week high at $22.41 with volume of ~20,254 shares, and analysts hold a consensus rating of "Moderate Buy" (1 Strong Buy, 4 Buy, 3 Hold).
• The most recent quarter showed an EPS miss (reported -$0.01 vs. $0.16 estimate) but revenue beat expectations ($144.55M vs. $137.63M); analysts expect ~0.71 EPS for the year.
• Paramount trades at a low valuation with a P/E of 3.73, market cap ~$3.29B, and a conservative balance sheet (debt-to-equity 0.10 and current/quick ratios of 3.77).

Shares of Paramount Resources Ltd. (OTCMKTS:PRMRF - Get Free Report) reached a new 52-week high during trading on Thursday . The company traded as high as $22.41 and last traded at $22.41, with a volume of 20254 shares changing hands. The stock had previously closed at $22.1055.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PRMRF shares. Scotiabank reissued an "outperform" rating on shares of Paramount Resources in a research report on Wednesday, January 21st. Zacks Research raised shares of Paramount Resources to a "hold" rating in a research report on Thursday, March 5th. Roth Mkm raised shares of Paramount Resources to a "strong-buy" rating in a research report on Wednesday, March 4th. ATB Cormark Capital Markets lowered shares of Paramount Resources from a "strong-buy" rating to a "moderate buy" rating in a research report on Tuesday, March 3rd. Finally, Raymond James Financial raised shares of Paramount Resources from a "hold" rating to a "moderate buy" rating in a research report on Thursday, January 15th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy".

Paramount Resources Trading Up 2.8%

The company's 50 day moving average price is $20.70 and its 200 day moving average price is $18.51. The company has a market cap of $3.29 billion, a price-to-earnings ratio of 3.73 and a beta of 0.68. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.77 and a current ratio of 3.77.

Paramount Resources (OTCMKTS:PRMRF - Get Free Report) last announced 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). Paramount Resources had a return on equity of 1.53% and a net margin of 149.02%.The business had revenue of $144.55 million for the quarter, compared to analyst estimates of $137.63 million. Research analysts anticipate that Paramount Resources Ltd. will post 0.71 EPS for the current year.

About Paramount Resources

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.

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