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

Paramount Resources Ltd. (OTCMKTS:PRMRF) was the target of a large decrease in short interest in March. As of March 15th, there was short interest totalling 3,175,500 shares, a decrease 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 daily volume of 201,500 shares, the short-interest ratio is currently 15.8 days.

Analyst Upgrades and Downgrades

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

Paramount Resources Price Performance

Shares of Paramount Resources stock traded down $0.22 during trading on Monday, hitting $12.78. 12,470 shares of the stock traded hands, compared to its average volume of 108,264. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of 7.18 and a beta of 2.46. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.01. Paramount Resources has a 52 week low of $9.89 and a 52 week high of $24.84. The firm’s fifty day moving average is $15.78 and its 200-day moving average is $18.92.

Paramount Resources Increases Dividend

The business also recently disclosed a dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be given a $0.0345 dividend. The ex-dividend date is Monday, March 17th. This represents a yield of 3.61%. This is an increase from Paramount Resources’s previous dividend of $0.03. Paramount Resources’s payout ratio is presently 24.70%.

About Paramount Resources

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.