Paramount Resources Ltd. (OTCMKTS:PRMRF) Short Interest Update

Paramount Resources Ltd. (OTCMKTS:PRMRF - Get Free Report) was the target of a large decline in short interest in March. As of March 15th, there was short interest totalling 3,175,500 shares, a decline of 25.4% from the February 28th total of 4,257,100 shares. Based on an average daily volume of 201,500 shares, the short-interest ratio is currently 15.8 days. Currently, 3.4% of the company's stock are short sold.

Paramount Resources Stock Performance

OTCMKTS:PRMRF traded up $0.15 during trading hours on Thursday, hitting $13.15. 21,645 shares of the company were exchanged, compared to its average volume of 105,575. The company's 50 day moving average price is $15.32 and its 200-day moving average price is $18.79. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of 7.39 and a beta of 2.46. Paramount Resources has a 52-week low of $9.89 and a 52-week high of $24.84. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.62 and a quick ratio of 0.62.

Paramount Resources Increases Dividend

The company also recently announced a dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were given a $0.0345 dividend. The ex-dividend date was Monday, March 17th. This represents a 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 currently 24.70%.

Analyst Ratings Changes

Separately, 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.

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.