Short Interest in Paramount Resources Ltd. (OTCMKTS:PRMRF) Drops By 18.6%

Paramount Resources Ltd. (OTCMKTS:PRMRF) saw a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 2,585,800 shares, a drop of 18.6% from the March 15th total of 3,175,500 shares. Based on an average daily volume of 75,000 shares, the days-to-cover ratio is currently 34.5 days. Currently, 2.7% of the company’s shares are sold short.

Analysts Set New Price Targets

Several research analysts recently weighed in on PRMRF shares. National Bank Financial lowered Paramount Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Raymond James upgraded Paramount Resources to a “moderate buy” rating in a report on Monday, April 7th.

Paramount Resources Stock Down 3.2 %

Shares of OTCMKTS:PRMRF traded down $0.39 during midday trading on Monday, hitting $11.84. 20,145 shares of the company’s stock traded hands, compared to its average volume of 98,530. Paramount Resources has a twelve month low of $9.89 and a twelve month high of $24.84. The company has a market cap of $1.70 billion, a PE ratio of 6.65 and a beta of 1.88. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.62 and a current ratio of 0.62. The firm’s fifty day moving average price is $12.67 and its two-hundred day moving average price is $18.03.

Paramount Resources Increases Dividend

The business also recently announced a dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 16th will be paid a $0.0349 dividend. The ex-dividend date is Tuesday, April 15th. This represents a dividend yield of 3.98%. This is a positive change from Paramount Resources’s previous dividend of $0.03. Paramount Resources’s dividend payout ratio (DPR) is 24.70%.

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.