Jefferies Financial Group Increases Parex Resources (TSE:PXT) Price Target to C$20.50

Parex Resources (TSE:PXT) had its target price boosted by Jefferies Financial Group from C$18.00 to C$20.50 in a research note issued on Monday,BayStreet.CA reports. Jefferies Financial Group’s price target would suggest a potential upside of 18.43% from the company’s current price.

A number of other analysts also recently weighed in on the company. Roth Capital set a C$24.00 target price on Parex Resources and gave the stock a “buy” rating in a research report on Friday, December 12th. BMO Capital Markets raised shares of Parex Resources from a “hold” rating to an “outperform” rating and lifted their price target for the stock from C$16.00 to C$20.00 in a research note on Monday, September 15th. Scotiabank boosted their price objective on shares of Parex Resources from C$17.00 to C$20.00 and gave the stock a “sector perform” rating in a report on Thursday, October 9th. Finally, Royal Bank Of Canada upped their price objective on shares of Parex Resources from C$20.00 to C$21.00 and gave the company a “sector perform” rating in a research note on Tuesday, October 7th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Parex Resources presently has an average rating of “Moderate Buy” and a consensus price target of C$21.10.

Parex Resources Stock Down 5.0%

Shares of TSE PXT opened at C$17.31 on Monday. Parex Resources has a 12 month low of C$10.30 and a 12 month high of C$19.81. The company has a current ratio of 1.18, a quick ratio of 1.45 and a debt-to-equity ratio of 1.81. The firm has a market capitalization of C$1.69 billion, a price-to-earnings ratio of 14.67, a PEG ratio of 0.21 and a beta of 0.61. The business has a 50-day moving average of C$18.31 and a 200-day moving average of C$16.87.

Parex Resources (TSE:PXT) last released its quarterly earnings results on Tuesday, November 4th. The company reported C$0.52 earnings per share for the quarter. Parex Resources had a return on equity of 13.52% and a net margin of 19.08%.The business had revenue of C$311.63 million for the quarter.

About Parex Resources

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.