Parex Resources (TSE:PXT) had its target price increased by Scotiabank from C$24.00 to C$26.00 in a report released on Wednesday, reports. The firm currently has a “focus stock” rating on the stock. Scotiabank’s price target would indicate a potential upside of 57.48% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. Eight Capital lowered their target price on Parex Resources from C$24.50 to C$22.00 in a report on Wednesday, September 27th. Royal Bank of Canada raised their price objective on Parex Resources from C$20.00 to C$24.00 and gave the company an “outperform” rating in a research note on Friday, November 10th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Parex Resources presently has an average rating of “Buy” and a consensus target price of C$23.44.

Shares of Parex Resources (TSE:PXT) traded down C$0.02 during mid-day trading on Wednesday, reaching C$16.51. The company’s stock had a trading volume of 314,046 shares, compared to its average volume of 381,335. Parex Resources has a 1-year low of C$12.19 and a 1-year high of C$18.46.

In related news, insider Eric Furlan sold 5,000 shares of Parex Resources stock in a transaction on Monday, November 13th. The stock was sold at an average price of C$17.90, for a total transaction of C$89,500.00. Also, insider Wayne Kim Foo sold 300,000 shares of Parex Resources 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. In the last ninety days, insiders have sold 318,842 shares of company stock worth $5,138,802.

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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.

Stock Target Prices

Analyst Recommendations for Parex Resources (TSE:PXT)

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