Shares of Parex Resources Inc. (TSE:PXT) have received an average recommendation of “Buy” from the eight brokerages that are covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is C$21.69.

PXT has been the topic of a number of recent research reports. Scotiabank reissued a “focus stock” rating and issued a C$23.00 target price on shares of Parex Resources in a report on Friday, September 29th. Eight Capital dropped their target price on Parex Resources from C$24.50 to C$22.00 in a report on Wednesday, September 27th.

In other Parex Resources news, insider Wayne Kim Foo sold 300,000 shares of the company’s stock in a transaction on Friday, October 13th. The stock was sold at an average price of C$16.00, for a total value of C$4,800,000.00. Also, insider Eric Furlan bought 3,000 shares of the stock in a transaction on Wednesday, August 16th. The stock was purchased at an average cost of C$13.25 per share, for a total transaction of C$39,750.00. Insiders have purchased 4,174 shares of company stock worth $55,728 in the last ninety days.

COPYRIGHT VIOLATION NOTICE: “Parex Resources Inc. (PXT) Receives Average Rating of “Buy” from Analysts” was posted by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another publication, it was illegally copied and reposted in violation of U.S. and international copyright and trademark legislation. The legal version of this story can be read at https://www.americanbankingnews.com/2017/10/22/parex-resources-inc-pxt-receives-average-rating-of-buy-from-analysts.html.

Shares of Parex Resources (PXT) traded up 0.78% during midday trading on Friday, hitting $15.53. 285,791 shares of the stock were exchanged. Parex Resources has a one year low of $12.19 and a one year high of $18.22. The firm has a 50 day moving average of $14.80 and a 200-day moving average of $15.31. The company has a market cap of $2.40 billion and a price-to-earnings ratio of 597.31.

About Parex Resources

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.

Analyst Recommendations for Parex Resources (TSE:PXT)

Receive News & Ratings for Parex Resources Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parex Resources Inc. and related companies with MarketBeat.com's FREE daily email newsletter.