Parex Resources (TSE:PXT) Shares Pass Above 200-Day Moving Average – Time to Sell?

Parex Resources Inc. (TSE:PXT) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$22.36 and traded as high as C$27.50. Parex Resources shares last traded at C$27.33, with a volume of 1,496,730 shares traded.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada upped their target price on Parex Resources from C$28.00 to C$32.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 8th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$23.30.

Parex Resources Price Performance

The company has a 50-day moving average price of C$26.70 and a two-hundred day moving average price of C$22.36. The company has a debt-to-equity ratio of 9.51, a current ratio of 1.49 and a quick ratio of 1.45. The company has a market cap of C$2.63 billion, a PE ratio of 14.77, a P/E/G ratio of 0.21 and a beta of 0.18.

Parex Resources (TSE:PXT) last issued its quarterly earnings results on Tuesday, May 12th. The company reported C$0.07 EPS for the quarter. The firm had revenue of C$284.35 million during the quarter. Parex Resources had a return on equity of 9.34% and a net margin of 19.59%.

Parex Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Wednesday, March 25th were issued a $0.385 dividend. The ex-dividend date of this dividend was Wednesday, March 18th. This represents a $1.54 dividend on an annualized basis and a yield of 5.6%. Parex Resources’s dividend payout ratio is currently 60.30%.

Insider Buying and Selling

In other Parex Resources news, insider Imad Mohsen purchased 14,600 shares of Parex Resources stock in a transaction that occurred on Thursday, May 14th. The stock was purchased at an average price of C$27.37 per share, with a total value of C$399,602.00. Following the completion of the acquisition, the insider owned 139,501 shares of the company’s stock, valued at approximately C$3,818,142.37. This trade represents a 11.69% increase in their position. Corporate insiders own 1.64% of the company’s stock.

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