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

Paramount Resources Ltd. (OTCMKTS:PRMRF) saw a large 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 trading volume, of 97,600 shares, the days-to-cover ratio is currently 32.9 days.

Paramount Resources Price Performance

OTCMKTS:PRMRF opened at $21.40 on Friday. The business’s 50-day simple moving average is $20.62 and its two-hundred day simple moving average is $21.00. Paramount Resources has a 52 week low of $18.00 and a 52 week high of $24.84. The stock has a market cap of $3.15 billion, a PE ratio of 12.02 and a beta of 2.55. 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 Cuts Dividend

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

Wall Street Analyst Weigh In

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

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.