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

Paramount Resources Ltd. (OTCMKTS:PRMRF) was the recipient of a significant drop in short interest in November. As of November 30th, there was short interest totalling 3,207,400 shares, a drop of 16.9% from the November 15th total of 3,862,000 shares. Based on an average daily volume of 97,600 shares, the days-to-cover ratio is currently 32.9 days.

Analysts Set New Price Targets

A number of equities analysts recently commented on PRMRF shares. Cibc World Mkts raised Paramount Resources from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Cormark upgraded shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a research report on Friday, November 15th.

Paramount Resources Trading Down 1.1 %

OTCMKTS:PRMRF opened at $21.40 on Monday. 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 has a one year low of $18.00 and a one year high of $24.84. The company has a market cap of $3.15 billion, a PE ratio of 12.02 and a beta of 2.55. The firm has a 50-day moving average of $20.62 and a 200-day moving average of $20.99.

Paramount Resources Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be given a $0.1071 dividend. This represents a yield of 6.01%. The ex-dividend date of this dividend is Monday, December 16th. Paramount Resources’s payout ratio is 74.72%.

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.