Paramount Resources (OTCMKTS:PRMRF) Sees Large Volume Increase – Here’s Why

Paramount Resources Ltd. (OTCMKTS:PRMRF) shares saw strong trading volume on Monday . 16,682 shares changed hands during mid-day trading, an increase of 10% from the previous session’s volume of 15,113 shares.The stock last traded at $22.00 and had previously closed at $21.6075.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PRMRF. Zacks Research upgraded Paramount Resources to a “hold” rating in a report on Thursday. Scotiabank reissued an “outperform” rating on shares of Paramount Resources in a research note on Wednesday, January 21st. ATB Cormark Capital Markets cut Paramount Resources from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, March 3rd. Roth Mkm upgraded Paramount Resources to a “strong-buy” rating in a report on Wednesday, March 4th. Finally, Raymond James Financial raised Paramount Resources from a “hold” rating to a “moderate buy” rating in a research note on Thursday, January 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Paramount Resources has an average rating of “Moderate Buy”.

Paramount Resources Trading Up 0.8%

The business has a 50-day moving average of $18.35 and a 200 day moving average of $17.06. The firm has a market capitalization of $3.15 billion, a P/E ratio of 3.57 and a beta of 0.70.

Paramount Resources (OTCMKTS:PRMRF) last announced its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.01) earnings per share (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 firm had revenue of $144.55 million during the quarter, compared to the consensus estimate of $137.63 million. As a group, research analysts forecast that Paramount Resources Ltd. will post 1.74 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.