Paramount Resources (OTCMKTS:PRMRF) Sees Strong Trading Volume – What’s Next?

Paramount Resources Ltd. (OTCMKTS:PRMRF) shares saw unusually-high trading volume on Monday . Approximately 18,511 shares were traded during trading, an increase of 13% from the previous session’s volume of 16,315 shares.The stock last traded at $21.5320 and had previously closed at $21.33.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PRMRF. Scotiabank restated an “outperform” rating on shares of Paramount Resources in a report on Wednesday, January 21st. Raymond James Financial upgraded Paramount Resources from a “hold” rating to a “moderate buy” rating in a report on Thursday, January 15th. ATB Cormark Capital Markets cut Paramount Resources from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, March 3rd. Zacks Research upgraded Paramount Resources to a “hold” rating in a report on Thursday, March 5th. Finally, Roth Mkm upgraded Paramount Resources to a “strong-buy” rating in a report on Wednesday, March 4th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Paramount Resources Stock Performance

The company has a market cap of $3.10 billion, a price-to-earnings ratio of 3.51 and a beta of 0.64. 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 stock has a 50-day moving average price of $20.95 and a 200 day moving average price of $18.71.

Paramount Resources (OTCMKTS:PRMRF) last released its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.17). The business had revenue of $144.55 million for the quarter, compared to analyst estimates of $137.63 million. Paramount Resources had a return on equity of 1.53% and a net margin of 149.02%. As a group, analysts anticipate that Paramount Resources Ltd. will post 0.71 EPS for the current fiscal 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.