Short Interest in Paramount Resources Ltd. (OTCMKTS:PRMRF) Rises By 18.5%

Paramount Resources Ltd. (OTCMKTS:PRMRF) saw a large increase in short interest in the month of June. As of June 15th, there was short interest totalling 1,626,900 shares, an increase of 18.5% from the May 31st total of 1,373,200 shares. Based on an average daily trading volume, of 30,000 shares, the short-interest ratio is presently 54.2 days.

Paramount Resources Price Performance

Shares of OTCMKTS PRMRF opened at $22.61 on Tuesday. The company has a 50-day moving average price of $23.13 and a 200-day moving average price of $21.18. The stock has a market capitalization of $3.31 billion, a P/E ratio of 13.31 and a beta of 2.62. Paramount Resources has a 1 year low of $18.19 and a 1 year high of $24.95.

Paramount Resources (OTCMKTS:PRMRF) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.34 earnings per share (EPS) for the quarter. The business had revenue of $335.51 million during the quarter. Paramount Resources had a return on equity of 9.82% and a net margin of 19.75%.

Paramount Resources Increases Dividend

The business also recently declared a dividend, which was paid on Friday, June 28th. Investors of record on Tuesday, June 18th were given a $0.11 dividend. This is a positive change from Paramount Resources’s previous dividend of $0.11. This represents a yield of 5.79%. The ex-dividend date of this dividend was Monday, June 17th. Paramount Resources’s dividend payout ratio is presently 77.06%.

Analyst Ratings Changes

Separately, BMO Capital Markets reaffirmed an “outperform” rating and set a $37.00 price target on shares of Paramount Resources in a research note on Tuesday, April 9th.

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.