Shares of Parex Resources Inc. (CVE:PXT) have been assigned a consensus recommendation of “Buy” from the eight brokerages that are covering the company, MarketBeat reports. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is C$22.19.

A number of research analysts recently weighed in on PXT shares. Royal Bank Of Canada raised their target price on shares of Parex Resources from C$20.00 to C$24.00 and gave the company an “outperform” rating in a report on Friday, November 10th. Scotiabank reissued a “focus stock” rating and issued a C$23.00 target price on shares of Parex Resources in a report on Thursday, October 12th. Finally, Eight Capital cut their target price on shares of Parex Resources from C$24.50 to C$22.00 in a report on Wednesday, September 27th.

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In other Parex Resources news, insider Michael Kruchten sold 3,842 shares of the business’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of C$17.96, for a total value of C$69,002.32. Also, insider Eric Furlan sold 5,000 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of C$17.90, for a total transaction of C$89,500.00. Over the last quarter, insiders have sold 318,842 shares of company stock valued at $5,138,802.

Parex Resources has a 1-year low of C$5.66 and a 1-year high of C$9.65.

Parex Resources Company Profile

Parex Resources Inc engages in the exploration, development, production, and marketing of oil and natural gas in South America. It holds interests in onshore exploration and production blocks totaling approximately 2,091,404 gross acres in Colombia. The company has proved plus probable reserves of 41.1 million barrels of oil equivalent.

Analyst Recommendations for Parex Resources (CVE:PXT)

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