Parex Resources Receives Consensus Rating of “Buy” from Brokerages (CVE:PXT)
Shares of Parex Resources (CVE:PXT) have received a consensus recommendation of “Buy” from the fourteen ratings firms that are covering the company, AmericanBankingNews.com reports. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is C$15.56.
PXT has been the subject of a number of recent research reports. Analysts at CSFB upgraded shares of Parex Resources from a “neutral” rating to an “outperform” rating in a research note on Tuesday, July 15th. They now have a C$18.50 price target on the stock, up previously from C$13.00. Separately, analysts at RBC Capital raised their price target on shares of Parex Resources from C$15.00 to C$18.00 in a research note on Tuesday, July 15th. They now have an “outperform” rating on the stock. Finally, analysts at Credit Suisse upgraded shares of Parex Resources to an “outperform” rating in a research note on Tuesday, July 15th. They now have a C$18.50 price target on the stock, up previously from C$13.00.
Parex Resources (CVE:PXT) opened at 14.39 on Wednesday. Parex Resources has a one year low of $5.13 and a one year high of $15.49. The stock’s 50-day moving average is $13.60 and its 200-day moving average is $10.65. The company has a market cap of $1.589 billion and a price-to-earnings ratio of 122.50.
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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