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Parex Resources (CVE:PXT) was downgraded by analysts at Canaccord Genuity from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Several other analysts have also recently commented on the stock. Analysts at Desjardins raised their price target on shares of Parex Resources from C$13.50 to C$14.00 in a research note on Wednesday, May 21st. They now have a “buy” rating on the stock. Separately, analysts at Dundee Securities raised their price target on shares of Parex Resources from C$12.60 to C$16.00 in a research note on Wednesday, May 14th. They now have a “buy” rating on the stock. Finally, analysts at RBC Capital raised their price target on shares of Parex Resources from C$14.00 to C$15.00 in a research note on Wednesday, May 14th. They now have an “outperform” rating on the stock. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of C$12.68.

Parex Resources (CVE:PXT) traded down 1.62% during mid-day trading on Thursday, hitting $12.79. The stock had a trading volume of 329,012 shares. Parex Resources has a 1-year low of $4.06 and a 1-year high of $13.25. The stock’s 50-day moving average is $11.86 and its 200-day moving average is $9.11. The company has a market cap of $1.412 billion and a P/E ratio of 104.84.

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

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