Paramount Resources (OTCMKTS:PRMRF) Releases Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Paramount Resources (OTCMKTS:PRMRF) posted its quarterly earnings data on Tuesday. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.06, Zacks reports. Paramount Resources had a return on equity of 1.53% and a net margin of 149.02%.

Paramount Resources Stock Performance

Shares of OTCMKTS PRMRF traded up $0.75 during trading on Tuesday, reaching $22.10. 9,687 shares of the stock traded hands, compared to its average volume of 16,269. Paramount Resources has a 52-week low of $12.57 and a 52-week high of $23.06. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.77 and a quick ratio of 3.77. The company has a 50-day moving average of $21.04 and a 200-day moving average of $18.79. The stock has a market capitalization of $3.21 billion, a P/E ratio of 3.63 and a beta of 0.64.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PRMRF. ATB Cormark Capital Markets cut Paramount Resources from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, March 3rd. Roth Mkm raised Paramount Resources to a “strong-buy” rating in a research report on Wednesday, March 4th. Zacks Research raised Paramount Resources to a “hold” rating in a research report on Thursday, March 5th. Scotiabank reissued an “outperform” rating on shares of Paramount Resources in a research report on Wednesday, January 21st. Finally, Raymond James Financial raised 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 assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

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.