Paramount Resources Ltd. (OTCMKTS:PRMRF) Short Interest Up 21.0% in February

Paramount Resources Ltd. (OTCMKTS:PRMRF - Get Free Report) was the recipient of a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 4,257,100 shares, a growth of 21.0% from the February 13th total of 3,517,300 shares. Based on an average trading volume of 420,700 shares, the short-interest ratio is presently 10.1 days. Currently, 4.5% of the company's stock are sold short.

Analyst Ratings Changes

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

Paramount Resources Stock Performance

Shares of Paramount Resources stock traded down $0.05 during trading hours on Friday, hitting $12.21. 24,576 shares of the company's stock traded hands, compared to its average volume of 114,816. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of 6.86 and a beta of 2.46. Paramount Resources has a 12-month low of $9.89 and a 12-month 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. The company has a fifty day simple moving average of $16.62 and a 200-day simple moving average of $19.14.

Paramount Resources Increases Dividend

The business also recently declared a dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be issued a $0.0345 dividend. This represents a dividend yield of 3.61%. The ex-dividend date is Monday, March 17th. This is a boost from Paramount Resources's previous dividend of $0.03. Paramount Resources's payout ratio is 24.70%.

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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.