Paramount Resources Ltd. (OTCMKTS:PRMRF) Short Interest Up 18.5% in June

Paramount Resources Ltd. (OTCMKTS:PRMRF) was the recipient of a significant 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 volume of 30,000 shares, the days-to-cover ratio is currently 54.2 days.

Analysts Set New Price Targets

Separately, BMO Capital Markets restated an “outperform” rating and set a $37.00 price objective on shares of Paramount Resources in a report on Tuesday, April 9th.

Paramount Resources Price Performance

PRMRF stock traded down $0.01 during trading hours on Monday, reaching $22.61. The stock had a trading volume of 14,180 shares, compared to its average volume of 29,448. The stock has a 50-day simple moving average of $23.13 and a 200 day simple moving average of $21.18. The stock has a market capitalization of $3.31 billion, a PE ratio of 13.30 and a beta of 2.54. Paramount Resources has a fifty-two week low of $18.19 and a fifty-two week high of $24.95.

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

Paramount Resources Increases Dividend

The business also recently announced a dividend, which was paid on Friday, June 28th. Stockholders of record on Tuesday, June 18th were paid a dividend of $0.11 per share. This represents a dividend yield of 5.79%. The ex-dividend date of this dividend was Monday, June 17th. This is a boost from Paramount Resources’s previous dividend of $0.11. Paramount Resources’s dividend payout ratio (DPR) is currently 76.47%.

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.