Paramount Resources Ltd. (OTCMKTS:PRMRF) Short Interest Down 18.6% in March

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

Wall Street Analyst Weigh In

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

Paramount Resources Stock Performance

PRMRF traded up $0.29 during midday trading on Wednesday, hitting $12.13. 13,585 shares of the company were exchanged, compared to its average volume of 97,380. Paramount Resources has a 1-year low of $9.89 and a 1-year high of $24.84. 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 firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of 6.82 and a beta of 1.88. The company's 50 day simple moving average is $12.25 and its 200 day simple moving average is $17.93.

Paramount Resources Increases Dividend

The firm also recently announced a dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 16th will be given a dividend of $0.0349 per share. The ex-dividend date is Tuesday, April 15th. This is a boost from Paramount Resources's previous dividend of $0.03. This represents a dividend yield of 3.98%. Paramount Resources's dividend payout ratio (DPR) is 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.