Paramount Resources Ltd. (OTCMKTS:PRMRF) Sees Large Drop in Short Interest

Paramount Resources Ltd. (OTCMKTS:PRMRF) was the recipient of a significant decline in short interest in November. As of November 30th, there was short interest totalling 3,207,400 shares, a decline 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.

Analyst Upgrades and Downgrades

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

Paramount Resources Price Performance

Paramount Resources stock opened at $21.40 on Monday. The company has a market capitalization of $3.15 billion, a price-to-earnings ratio of 12.02 and a beta of 2.55. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.01. Paramount Resources has a 12 month low of $18.00 and a 12 month high of $24.84. The stock’s 50 day moving average is $20.62 and its 200-day moving average is $20.99.

Paramount Resources Cuts Dividend

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