Parex Resources Inc. (PXT) Insider Sells C$632,884.67 in Stock

Parex Resources Inc. (TSE:PXT) insider David Robert Taylor sold 34,793 shares of Parex Resources stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of C$18.19, for a total value of C$632,884.67.

Shares of Parex Resources Inc. (PXT) traded down C$0.60 during midday trading on Friday, reaching C$17.01. The company’s stock had a trading volume of 693,066 shares, compared to its average volume of 520,322. Parex Resources Inc. has a 12-month low of C$12.19 and a 12-month high of C$19.86. The firm has a market cap of $2,740.00, a price-to-earnings ratio of 40.12 and a beta of 0.65.

Parex Resources (TSE:PXT) last announced its quarterly earnings data on Tuesday, November 7th. The company reported C$0.44 EPS for the quarter, topping the Zacks’ consensus estimate of C$0.26 by C$0.18. Parex Resources had a return on equity of 27.78% and a net margin of 37.80%. The firm had revenue of C$200.60 million during the quarter, compared to analyst estimates of C$194.33 million.

A number of brokerages recently weighed in on PXT. Canaccord Genuity lifted their price target on Parex Resources from C$22.00 to C$24.00 in a research note on Friday. Scotiabank lifted their price target on Parex Resources from C$27.00 to C$28.00 and gave the stock a “focus stock” rating in a research note on Wednesday. Royal Bank of Canada lifted their price target on Parex Resources from C$20.00 to C$24.00 and gave the stock an “outperform” rating in a research note on Friday, November 10th. CIBC lifted their price target on Parex Resources from C$22.50 to C$25.00 in a research note on Tuesday, January 23rd. Finally, Eight Capital lifted their price target on Parex Resources from C$23.00 to C$30.00 in a research note on Monday, December 11th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of C$24.57.

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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.

Insider Buying and Selling by Quarter for Parex Resources (TSE:PXT)

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