Paramount Resources (OTCMKTS:PRMRF) Stock Price Crosses Above 50-Day Moving Average - Time to Sell?

Key Points

• Paramount Resources shares rose above their 50-day moving average, reaching $22.65 before closing at $22.5363, compared with a 50-day average of $20.57.
• Analyst sentiment remains positive overall, with a MarketBeat consensus rating of “Moderate Buy”: one Strong Buy, four Buys and four Holds.
• The company exceeded quarterly expectations, reporting earnings of $0.33 per share versus a $0.28 estimate and revenue of $183.53 million versus the $151.36 million consensus.

Paramount Resources Ltd. (OTCMKTS:PRMRF - Get Free Report)'s stock price passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $20.57 and traded as high as $22.65. Paramount Resources shares last traded at $22.5363, with a volume of 9,428 shares trading hands.

Analyst Upgrades and Downgrades

PRMRF has been the topic of several research analyst reports. Jefferies Financial Group reaffirmed a "buy" rating on shares of Paramount Resources in a research note on Tuesday, May 12th. Zacks Research cut shares of Paramount Resources from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 13th. Scotiabank reissued a "sector perform" rating on shares of Paramount Resources in a report on Friday, August 7th. Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of Paramount Resources in a research report on Friday, July 10th. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of Paramount Resources in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy".

Paramount Resources Trading Down 1.1%

The business's fifty day simple moving average is $20.57 and its 200 day simple moving average is $20.73. The stock has a market cap of $3.29 billion, a P/E ratio of 39.54 and a beta of 0.63.

Paramount Resources (OTCMKTS:PRMRF - Get Free Report) last posted 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. Paramount Resources had a net margin of 12.52% and a return on equity of 4.33%. The firm had revenue of $183.53 million during the quarter, compared to analysts' expectations of $151.36 million. On average, analysts predict that Paramount Resources Ltd. will post 1.08 earnings per share 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.

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