Paramount Resources Ltd. (OTCMKTS:PRMRF) Short Interest Down 25.4% in March

Paramount Resources Ltd. (OTCMKTS:PRMRF) was the recipient of a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 3,175,500 shares, a drop of 25.4% from the February 28th total of 4,257,100 shares. Approximately 3.4% of the shares of the stock are sold short. Based on an average daily volume of 201,500 shares, the short-interest ratio is presently 15.8 days.

Wall Street Analysts Forecast Growth

Separately, National Bank Financial cut shares of Paramount Resources from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th.

Paramount Resources Trading Down 1.7 %

Shares of PRMRF stock opened at $12.78 on Friday. The stock has a market cap of $1.83 billion, a P/E ratio of 7.18 and a beta of 2.46. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.01. Paramount Resources has a fifty-two week low of $9.89 and a fifty-two week high of $24.84. The business has a fifty day simple moving average of $15.78 and a 200-day simple moving average of $18.91.

Paramount Resources Increases Dividend

The firm also recently announced a dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.0345 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a yield of 3.61%. This is a boost from Paramount Resources’s previous dividend of $0.03. Paramount Resources’s payout ratio is presently 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.