Paramount Resources Ltd. (OTCMKTS:PRMRF) Short Interest Down 14.3% in May

Paramount Resources Ltd. (OTCMKTS:PRMRF - Get Free Report) saw a significant decrease in short interest in the month of May. As of May 15th, there was short interest totalling 2,266,400 shares, a decrease of 14.3% from the April 30th total of 2,645,300 shares. Approximately 2.4% of the company's stock are sold short. Based on an average daily volume of 65,600 shares, the short-interest ratio is currently 34.5 days.

Wall Street Analyst Weigh In

PRMRF has been the subject of several recent research reports. Royal Bank of Canada reissued a "sector perform" rating on shares of Paramount Resources in a research report on Wednesday, May 14th. National Bank Financial cut shares of Paramount Resources from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Finally, Raymond James raised shares of Paramount Resources to a "moderate buy" rating in a research note on Monday, April 7th. Two analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy".

Paramount Resources Stock Up 0.9%

OTCMKTS:PRMRF traded up $0.13 during trading hours on Friday, reaching $14.52. 12,774 shares of the company traded hands, compared to its average volume of 75,697. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.01. The business's 50-day moving average price is $12.49 and its two-hundred day moving average price is $16.36. Paramount Resources has a 1 year low of $9.89 and a 1 year high of $24.00. The stock has a market capitalization of $2.08 billion, a P/E ratio of 8.16 and a beta of 1.48.

Paramount Resources (OTCMKTS:PRMRF - Get Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.09). The company had revenue of $185.24 million for the quarter, compared to the consensus estimate of $198.00 million. Paramount Resources had a net margin of 19.96% and a return on equity of 10.04%. Analysts predict that Paramount Resources will post 1.74 earnings per share for the current year.

Paramount Resources Increases Dividend

The company also recently announced a dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were issued a $0.0362 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This is a boost from Paramount Resources's previous dividend of $0.03. This represents a yield of 3.56%. Paramount Resources's payout ratio is 5.53%.

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.