Parex Resources Inc. (TSE:PXT) Receives C$20.21 Consensus Price Target from Analysts

Shares of Parex Resources Inc. (TSE:PXT) have been assigned an average recommendation of “Hold” from the five research firms that are currently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is C$20.21.

Separately, Royal Bank of Canada boosted their target price on shares of Parex Resources from C$15.00 to C$16.00 and gave the company a “sector perform” rating in a research report on Thursday, March 6th.

Parex Resources Stock Up 3.1%

PXT stock opened at C$14.19 on Friday. The company has a market capitalization of C$995.49 million, a P/E ratio of 3.88, a price-to-earnings-growth ratio of 0.21 and a beta of 1.43. Parex Resources has a 12 month low of C$10.30 and a 12 month high of C$22.75. The firm’s fifty day simple moving average is C$12.11 and its 200-day simple moving average is C$13.45. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.18 and a quick ratio of 1.45.

Parex Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 16th will be paid a $0.385 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $1.54 annualized dividend and a dividend yield of 10.85%. Parex Resources’s dividend payout ratio is presently 42.12%.

Insider Buying and Selling

In other news, Senior Officer Imad Mohsen bought 23,250 shares of Parex Resources stock in a transaction on Friday, April 11th. The stock was acquired at an average price of C$10.83 per share, with a total value of C$251,797.50. Also, Director Sigmund Cornelius bought 5,000 shares of Parex Resources stock in a transaction dated Friday, March 7th. The stock was acquired at an average price of C$12.61 per share, with a total value of C$63,063.00. 1.64% of the stock is currently owned by insiders.

Parex Resources Company Profile

Parex Resources Inc engages in exploration, development, and production of crude oil. The company brings technology utilized in the Western Canada Sedimentary Basin to South American basins with large oil-in-place potential. Majority of the company’s properties are focused in Colombia, where it pays a royalty or tax to the government for its operations.