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

Paramount Resources Ltd. (OTCMKTS:PRMRF) saw 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. Currently, 4.5% of the company’s shares are short sold. Based on an average daily trading volume, of 420,700 shares, the days-to-cover ratio is presently 10.1 days.

Paramount Resources Trading Up 2.6 %

Shares of PRMRF traded up $0.30 during trading hours on Wednesday, hitting $11.97. 30,678 shares of the stock were exchanged, compared to its average volume of 117,980. Paramount Resources has a fifty-two week low of $9.89 and a fifty-two week high of $24.84. The business has a 50-day moving average of $17.21 and a 200-day moving average of $19.30. The firm has a market capitalization of $1.77 billion, a P/E ratio of 6.72 and a beta of 2.46. 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 firm also recently disclosed a dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be paid a $0.0345 dividend. This represents a dividend yield of 3.61%. This is an increase from Paramount Resources’s previous dividend of $0.03. The ex-dividend date of this dividend is Monday, March 17th. Paramount Resources’s payout ratio is currently 24.70%.

Wall Street Analysts Forecast Growth

Separately, National Bank Financial lowered shares of Paramount Resources from a “strong-buy” rating to a “hold” rating in a 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.