Parex Resources Given Consensus Recommendation of “Buy” by Brokerages (CVE:PXT)
Parex Resources (CVE:PXT) has earned an average recommendation of “Buy” from the fourteen ratings firms that are currently covering the stock, StockRatingsNetwork reports. Four equities research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is C$12.68.
A number of analysts have recently weighed in on PXT shares. Analysts at Canaccord Genuity downgraded shares of Parex Resources from a “buy” rating to a “hold” rating in a research note on Thursday. Separately, 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. Finally, 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.
Parex Resources (CVE:PXT) traded up 1.11% on Friday, hitting $12.75. The stock had a trading volume of 100,957 shares. Parex Resources has a one year low of $4.06 and a one year high of $13.25. The stock’s 50-day moving average is $11.91 and its 200-day moving average is $9.14. The company has a market cap of $1.408 billion and a P/E ratio of 101.69.
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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