Paramount Resources (OTCMKTS:PRMRF) Raised to Strong-Buy at Cibc World Mkts

Paramount Resources (OTCMKTS:PRMRF) was upgraded by equities research analysts at Cibc World Mkts from a “hold” rating to a “strong-buy” rating in a note issued to investors on Thursday, Zacks.com reports.

Paramount Resources Trading Up 0.5 %

Shares of OTCMKTS:PRMRF opened at $19.32 on Thursday. The company has a market capitalization of $2.84 billion, a PE ratio of 11.04 and a beta of 2.54. Paramount Resources has a 12-month low of $18.00 and a 12-month high of $24.95. The business has a 50 day moving average of $19.82 and a two-hundred day moving average of $21.50.

Paramount Resources (OTCMKTS:PRMRF) last posted its earnings results on Thursday, August 1st. The company reported $0.42 earnings per share (EPS) for the quarter. The firm had revenue of $324.22 million during the quarter. Paramount Resources had a net margin of 19.56% and a return on equity of 9.90%. Equities research analysts predict that Paramount Resources will post 1.8 earnings per share for the current fiscal year.

Paramount Resources Company Profile

Paramount Resources Ltd. explores for and develops conventional and unconventional petroleum and natural gas reserves and resources in Canada. The company holds interests in the Karr and Wapiti Montney properties covering an area of 109,000 net acres located south of the city of Grande Prairie, Alberta; Kaybob North Duvernay development and natural gas producing properties covering an area of 124,000 net acres located in west-central Alberta; and Willesden Green Duvernay development in central Alberta and shale gas producing properties in the Horn River Basin in northeast British Columbia covering an area of 249,000 net acres.