Parex Resources Inc. (PXT) Price Target Increased to C$21.00 by Analysts at Royal Bank of Canada
Parex Resources Inc. (TSE:PXT) had its target price upped by Royal Bank of Canada from C$20.00 to C$21.00 in a report published on Wednesday morning. They currently have an outperform rating on the stock.
Other equities analysts have also issued research reports about the stock. TD Securities reaffirmed a buy rating and set a C$22.00 target price on shares of Parex Resources in a report on Thursday, March 9th. Scotiabank increased their target price on shares of Parex Resources from C$19.00 to C$23.00 and gave the company a focus stock rating in a report on Tuesday, February 7th. Canaccord Genuity reaffirmed a buy rating and set a C$22.00 target price on shares of Parex Resources in a report on Thursday, March 2nd. CSFB increased their price target on shares of Parex Resources from C$18.25 to C$23.00 and gave the company an outperform rating in a research report on Tuesday, February 7th. Finally, CIBC increased their price target on shares of Parex Resources from C$17.50 to C$18.50 in a research report on Wednesday, February 8th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of C$20.09.
Shares of Parex Resources (TSE:PXT) opened at 15.83 on Wednesday. The firm has a 50-day moving average of $16.20 and a 200 day moving average of $16.34. The company’s market capitalization is $2.43 billion. Parex Resources has a 1-year low of $10.50 and a 1-year high of $18.22.
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In other Parex Resources news, insider Kenneth George Pinsky sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of C$16.35, for a total transaction of C$245,250.00. Also, Director John Frederick Bechtold sold 10,000 shares of the firm’s stock in a transaction dated Friday, January 20th. The shares were sold at an average price of C$15.02, for a total transaction of C$150,200.00. Over the last three months, insiders have sold 67,434 shares of company stock valued at $1,080,892.
Parex Resources Company Profile
Parex Resources, Inc is a Canada-based oil and gas company. The Company is engaged in crude oil exploration, development and production in Colombia. The Company’s segments include Canada and Colombia. The Company, through its foreign subsidiaries, holds interests in onshore exploration and production blocks totaling approximately 1,870,120 gross acres.
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