Shares of Paramount Resources Ltd. (OTCMKTS:PRMRF – Get Free Report) passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $21.52 and traded as low as $18.8380. Paramount Resources shares last traded at $19.1341, with a volume of 3,416,962 shares.
Analyst Upgrades and Downgrades
PRMRF has been the subject of a number of research analyst reports. Scotiabank raised Paramount Resources to a “hold” rating in a report on Friday, June 26th. Zacks Research raised shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Jefferies Financial Group restated a “buy” rating on shares of Paramount Resources in a research report on Tuesday, May 12th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Paramount Resources in a research note on Wednesday, May 13th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating on shares of Paramount Resources in a research report on Wednesday, May 13th. Two investment analysts have 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 company presently has an average rating of “Moderate Buy”.
Read Our Latest Stock Analysis on Paramount Resources
Paramount Resources Stock Performance
Paramount Resources (OTCMKTS:PRMRF – Get Free Report) last issued its quarterly earnings results on Tuesday, May 12th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06. The company had revenue of $164.34 million for the quarter, compared to analyst estimates of $119.34 million. Paramount Resources had a return on equity of 1.98% and a net margin of 6.65%. Equities analysts forecast that Paramount Resources Ltd. will post 1.06 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.
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