Short Interest in Paramount Resources Ltd. (OTCMKTS:PRMRF) Decreases By 18.6%

Paramount Resources Ltd. (OTCMKTS:PRMRF - Get Free Report) was the target of a significant drop in short interest in the month of March. As of March 31st, there was short interest totalling 2,585,800 shares, a drop of 18.6% from the March 15th total of 3,175,500 shares. Approximately 2.7% of the shares of the company are short sold. Based on an average trading volume of 75,000 shares, the days-to-cover ratio is presently 34.5 days.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Raymond James upgraded Paramount Resources to a "moderate buy" rating in a research note on Monday, April 7th. National Bank Financial lowered shares of Paramount Resources from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th.

Paramount Resources Stock Performance

OTCMKTS PRMRF traded down $0.10 on Friday, hitting $11.73. 9,233 shares of the stock traded hands, compared to its average volume of 93,952. 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 business's fifty day moving average is $11.82 and its two-hundred day moving average is $17.82. Paramount Resources has a 12 month low of $9.89 and a 12 month high of $24.84. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 6.59 and a beta of 1.88.

Paramount Resources Increases Dividend

The company also recently declared a dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 16th will be paid a dividend of $0.0349 per share. This is an increase from Paramount Resources's previous dividend of $0.03. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a dividend yield of 3.98%. 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.