Paramount Resources (PRMRF) Soars 5.5%: Is Further Upside Left in the Stock?
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Paramount Resources (PRMRF) shares soared 5.5% in the last trading session to close at $15.66. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 1.4% gain over the past four weeks.A Calgary, Canada-based oil and gas exploration and production company recently saw its share price rise after announcing the sale of a portion of its investment in NuVista Energy Ltd. The transaction unlocked fresh capital and demonstrated a strong commitment to disciplined capital allocation. It was viewed as a strategic move to increase operational flexibility and strengthen the balance sheet—particularly valuable in the current volatile energy market, where maximizing asset value and managing risk are crucial. Investors interpreted the sale as a sign of management’s proactive approach to capital recycling and its dedication to enhancing shareholder value, which helped renew market confidence and drove up the stock price. This oil and natural gas company is expected to post quarterly earnings of $0.11 per share in its upcoming report, which represents a year-over-year change of -76.6%. Revenues are expected to be $92.91 million, down 71.1% from the year-ago quarter.While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.For Paramount Resources, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on PRMRF going forward to see if this recent jump can turn into more strength down the road. The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Paramount Resources is part of the Zacks Oil and Gas - Exploration and Production - Canadian industry. Baytex Energy (BTE), another stock in the same industry, closed the last trading session 1.3% higher at $2.42. BTE has returned 11.7% in the past month.For Baytex, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.03. This represents a change of -117.7% from what the company reported a year ago. Baytex currently has a Zacks Rank of #2 (Buy).Zacks Names #1 Semiconductor StockThis under-the-radar company specializes in semiconductor products that titans like NVIDIA don't build. It's uniquely positioned to take advantage of the next growth stage of this market. And it's just beginning to enter the spotlight, which is exactly where you want to be.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $971 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Paramount Resources Ltd. (PRMRF): Free Stock Analysis Report Baytex Energy Corp (BTE): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks
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Analysen zu Paramount Resources LtdShs -A-
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09.10.2012 | Paramount Resources Lt a sector outperform | Scotia Capital Markets |
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09.10.2012 | Paramount Resources Lt a sector outperform | Scotia Capital Markets |
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