Paramount Resources Ltd. (OTCMKTS:PRMRF) Short Interest Down 25.4% in March

Paramount Resources Ltd. (OTCMKTS:PRMRF) was the target of a large drop in short interest in March. As of March 15th, there was short interest totalling 3,175,500 shares, a drop of 25.4% from the February 28th total of 4,257,100 shares. Approximately 3.4% of the shares of the stock are short sold. Based on an average trading volume of 201,500 shares, the days-to-cover ratio is presently 15.8 days.

Paramount Resources Stock Up 1.1 %

OTCMKTS:PRMRF traded up $0.14 during mid-day trading on Tuesday, reaching $12.96. The stock had a trading volume of 75,729 shares, compared to its average volume of 107,688. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.62 and a quick ratio of 0.62. The stock has a market cap of $1.86 billion, a P/E ratio of 7.28 and a beta of 2.46. The business’s 50 day moving average is $15.63 and its 200 day moving average is $18.87. Paramount Resources has a fifty-two week low of $9.89 and a fifty-two week high of $24.84.

Paramount Resources Increases Dividend

The firm also recently disclosed a dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were issued a $0.0345 dividend. The ex-dividend date was Monday, March 17th. This is a boost from Paramount Resources’s previous dividend of $0.03. This represents a yield of 3.61%. Paramount Resources’s dividend payout ratio is currently 24.70%.

Analyst Ratings Changes

Separately, National Bank Financial downgraded shares of Paramount Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th.

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.