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Equities research analysts at Mackie raised their target price on shares of Parex Resources (TSE:PXT) from C$10.75 to C$12.00 in a research note issued to investors on Tuesday, Analyst RN reports. The firm currently has a “hold” rating on the stock. Mackie’s price objective points to a potential upside of 4.62% from the company’s current price.

Shares of Parex Resources (TSE:PXT) traded up 4.62% during mid-day trading on Tuesday, hitting $12.00. The stock had a trading volume of 1,233,614 shares. Parex Resources has a 1-year low of $4.06 and a 1-year high of $11.84. The stock’s 50-day moving average is $10.35 and its 200-day moving average is $7.94. The company has a P/E ratio of 92.50.

Several other analysts have also recently commented on the stock. Analysts at Paradigm Capital raised their price target on shares of Parex Resources from C$12.75 to C$19.00 in a research note on Monday, May 5th. They now have a “buy” rating on the stock. Separately, analysts at Canaccord Genuity raised their price target on shares of Parex Resources from C$11.25 to C$12.00 in a research note on Wednesday, April 23rd. Finally, analysts at Canaccord Genuity upgraded shares of Parex Resources from a “hold” rating to a “buy” rating in a research note on Friday, March 21st. They now have a C$10.50 price target on the stock, up previously from C$9.00. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Parex Resources presently has an average rating of “Buy” and an average price target of C$11.26.

Parex Resources Inc (TSE:PXT) is engaged in oil and natural gas exploration, development and production in South America and the Caribbean region.

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