Imad Mohsen Purchases 24,250 Shares of Parex Resources (TSE:PXT) Stock

Parex Resources Inc. (TSE:PXT) insider Imad Mohsen bought 24,250 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The shares were bought at an average price of C$20.61 per share, with a total value of C$499,792.50. Following the transaction, the insider owned 165,410 shares of the company’s stock, valued at C$3,409,100.10. The trade was a 17.18% increase in their position.

Imad Mohsen also recently made the following trade(s):

• On Thursday, May 14th, Imad Mohsen bought 14,600 shares of Parex Resources stock. The shares were bought at an average cost of C$27.37 per share, with a total value of C$399,602.00.

Parex Resources Stock Performance

Shares of TSE PXT opened at C$22.02 on Thursday. The company has a debt-to-equity ratio of 9.51, a quick ratio of 1.45 and a current ratio of 1.49. The company has a market cap of C$2.12 billion, a P/E ratio of 11.90, a P/E/G ratio of 0.21 and a beta of 0.19. The firm’s fifty day moving average is C$25.37 and its two-hundred day moving average is C$23.45. Parex Resources Inc. has a 52-week low of C$14.12 and a 52-week high of C$30.20.

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

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Royal Bank Of Canada increased their price target on Parex Resources from C$28.00 to C$32.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 8th. Scotiabank lifted their price objective on Parex Resources from C$20.00 to C$29.00 and gave the stock a “sector perform” rating in a research note on Monday, June 22nd. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Parex Resources currently has an average rating of “Moderate Buy” and an average price target of C$25.10.

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.