Paramount Resources (OTCMKTS:PRMRF) Shares Pass Above 50 Day Moving Average – Here’s What Happened

Paramount Resources Ltd. (OTCMKTS:PRMRF) shares passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $18.85 and traded as high as $21.7250. Paramount Resources shares last traded at $21.5350, with a volume of 11,860 shares.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Raymond James Financial raised shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a research report on Thursday, January 15th. Zacks Research raised shares of Paramount Resources to a “hold” rating in a research note on Thursday, March 5th. 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. Scotiabank reaffirmed an “outperform” rating on shares of Paramount Resources in a research note on Wednesday, January 21st. Finally, Roth Mkm raised Paramount Resources to a “strong-buy” rating in a research report on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

Paramount Resources Stock Performance

The business has a 50-day simple moving average of $19.06 and a 200-day simple moving average of $17.43. The company has a market cap of $3.11 billion, a price-to-earnings ratio of 3.53 and a beta of 0.70.

Paramount Resources (OTCMKTS:PRMRF) last issued its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $137.63 million. Research analysts anticipate 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.