Short Interest in Paramount Resources Ltd. (OTCMKTS:PRMRF) Increases By 21.0%

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. Based on an average daily trading volume, of 420,700 shares, the short-interest ratio is presently 10.1 days. Approximately 4.5% of the company’s stock are short sold.

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 research report on Tuesday, February 18th.

Paramount Resources Stock Performance

Shares of PRMRF traded down $0.02 during mid-day trading on Tuesday, hitting $11.67. The stock had a trading volume of 14,630 shares, compared to its average volume of 119,810. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.01. The company has a market cap of $1.73 billion, a PE ratio of 6.56 and a beta of 2.46. Paramount Resources has a fifty-two week low of $9.89 and a fifty-two week high of $24.84. The company’s fifty day simple moving average is $17.43 and its two-hundred day simple moving average is $19.36.

Paramount Resources Increases Dividend

The company also recently disclosed 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 dividend payout ratio (DPR) is 24.70%.

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.