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

Paramount Resources Ltd. (OTCMKTS:PRMRF) saw a large decrease in short interest in the month of 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. Based on an average daily volume of 201,500 shares, the days-to-cover ratio is presently 15.8 days. Currently, 3.4% of the company’s shares are sold short.

Paramount Resources Stock Down 1.7 %

Shares of OTCMKTS:PRMRF opened at $12.78 on Friday. The stock has a 50-day simple moving average of $15.78 and a 200-day simple moving average of $18.91. The stock has a market capitalization of $1.83 billion, a P/E ratio of 7.18 and a beta of 2.46. Paramount Resources has a 1 year low of $9.89 and a 1 year high of $24.84. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.62 and a current ratio of 0.62.

Paramount Resources Increases Dividend

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

Wall Street Analyst Weigh In

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

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.