Parex Resources (TSE:PXT) Shares Cross Above Two Hundred Day Moving Average – Time to Sell?

Parex Resources Inc. (TSE:PXT) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$19.62 and traded as high as C$26.76. Parex Resources shares last traded at C$26.09, with a volume of 1,639,380 shares changing hands.

Wall Street Analyst Weigh In

PXT has been the subject of several research reports. Royal Bank Of Canada raised their target price on Parex Resources from C$23.00 to C$28.00 and gave the company a “sector perform” rating in a research note on Friday, March 13th. Roth Mkm set a C$24.00 price target on Parex Resources and gave the stock a “buy” rating in a research note on Friday, December 12th. Finally, Jefferies Financial Group increased their price target on Parex Resources from C$18.00 to C$20.50 in a report on Monday, December 15th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$22.50.

Parex Resources Stock Down 2.9%

The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.45 and a current ratio of 1.11. The stock’s 50 day simple moving average is C$22.12 and its 200 day simple moving average is C$19.62. The firm has a market cap of C$2.50 billion, a P/E ratio of 9.96, a price-to-earnings-growth ratio of 0.21 and a beta of 0.63.

Parex Resources (TSE:PXT) last released its quarterly earnings data on Wednesday, March 4th. The company reported C$0.43 earnings per share for the quarter. The firm had revenue of C$223.53 million for the quarter. Parex Resources had a net margin of 26.85% and a return on equity of 13.39%.

Parex Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Wednesday, March 25th were issued a $0.385 dividend. This represents a $1.54 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date was Wednesday, March 18th. Parex Resources’s dividend payout ratio is currently 42.29%.

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. Parex depends on a team of geologists and geophysicists, in partnership with technologies such as 3D seismic surveying, to help exploration efforts.