Paramount Resources (OTCMKTS:PRMRF) Sees Strong Trading Volume – What’s Next?
by Danessa Lincoln · The Markets DailyShares of Paramount Resources Ltd. (OTCMKTS:PRMRF – Get Free Report) saw strong trading volume on Friday . 24,489 shares traded hands during trading, an increase of 57% from the previous session’s volume of 15,585 shares.The stock last traded at $21.72 and had previously closed at $21.88.
Analyst Upgrades and Downgrades
Several equities analysts recently weighed in on PRMRF shares. Roth Mkm raised shares of Paramount Resources to a “strong-buy” rating in a research note on Wednesday, March 4th. ATB Cormark Capital Markets cut shares of Paramount Resources from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, March 3rd. Zacks Research raised shares of Paramount Resources to a “hold” rating in a research report on Thursday, March 5th. Raymond James Financial upgraded shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a research note on Thursday, January 15th. Finally, Scotiabank reiterated an “outperform” rating on shares of Paramount Resources in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.
Check Out Our Latest Report on PRMRF
Paramount Resources Stock Up 1.7%
The stock has a market capitalization of $3.21 billion, a price-to-earnings ratio of 3.65 and a beta of 0.70. The company’s fifty day simple moving average is $19.17 and its 200 day simple moving average is $17.46.
Paramount Resources (OTCMKTS:PRMRF – Get Free Report) last announced its 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 1.54% and a net margin of 149.02%.The company had revenue of $144.55 million for the quarter, compared to the consensus estimate of $137.63 million. As a group, analysts anticipate that Paramount Resources Ltd. will post 1.74 earnings per share for the current 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.