Paramount Resources Ltd. (OTCMKTS:PRMRF) Short Interest Up 21.0% in February

Paramount Resources Ltd. (OTCMKTS:PRMRF) saw a large increase in short interest in February. As of February 28th, there was short interest totalling 4,257,100 shares, an increase of 21.0% from the February 13th total of 3,517,300 shares. Based on an average daily trading volume, of 420,700 shares, the days-to-cover ratio is currently 10.1 days. Currently, 4.5% of the company’s shares are sold short.

Analyst Ratings Changes

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

Paramount Resources Stock Up 2.6 %

Shares of OTCMKTS:PRMRF opened at $11.97 on Thursday. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.01. The business has a fifty day moving average of $17.01 and a two-hundred day moving average of $19.25. The stock has a market cap of $1.71 billion, a P/E ratio of 6.72 and a beta of 2.46. Paramount Resources has a 52-week low of $9.89 and a 52-week high of $24.84.

Paramount Resources Increases Dividend

The business also recently announced a dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be issued a $0.0345 dividend. This is a boost from Paramount Resources’s previous dividend of $0.03. This represents a yield of 3.61%. The ex-dividend date of this dividend is Monday, March 17th. Paramount Resources’s dividend payout ratio is presently 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.