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

Paramount Resources Ltd. (OTCMKTS:PRMRF - Get Free Report) was the recipient of a large decrease in short interest in 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. Based on an average daily volume of 65,600 shares, the days-to-cover ratio is currently 34.5 days. Currently, 2.4% of the company's shares are sold short.

Paramount Resources Stock Performance

Shares of PRMRF traded down $0.24 during trading hours on Thursday, reaching $14.37. 19,882 shares of the company traded hands, compared to its average volume of 76,887. 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 stock's fifty day moving average is $12.43 and its 200 day moving average is $16.47. Paramount Resources has a 1-year low of $9.89 and a 1-year high of $24.00. The stock has a market cap of $2.06 billion, a P/E ratio of 8.07 and a beta of 1.48.

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

Paramount Resources Increases Dividend

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

Analysts Set New Price Targets

PRMRF has been the subject of several recent research reports. National Bank Financial downgraded Paramount Resources from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 18th. Royal Bank of Canada reiterated a "sector perform" rating on shares of Paramount Resources in a research report on Wednesday, May 14th. Finally, Raymond James raised 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy".

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.