Parex Resources (TSE:PXT) Share Price Passes Above Two Hundred Day Moving Average of $23.86

Shares of Parex Resources Inc. (TSE:PXT) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$23.86 and traded as high as C$23.88. Parex Resources shares last traded at C$23.61, with a volume of 399,570 shares traded.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PXT shares. Royal Bank of Canada dropped their price objective on shares of Parex Resources from C$32.00 to C$28.00 and set an “outperform” rating on the stock in a research report on Friday, March 1st. TD Securities reduced their price objective on Parex Resources from C$28.70 to C$27.20 in a report on Tuesday, January 16th. Scotiabank lowered their target price on Parex Resources from C$28.00 to C$27.00 and set a “sector perform” rating on the stock in a research note on Friday, March 1st. Finally, Stifel Nicolaus reduced their price target on Parex Resources from C$32.75 to C$31.00 and set a “buy” rating for the company in a research note on Monday, March 4th.

Parex Resources Stock Performance

The company has a debt-to-equity ratio of 4.93, a current ratio of 1.31 and a quick ratio of 1.45. The stock has a market cap of C$2.44 billion, a P/E ratio of 4.02, a PEG ratio of 0.21 and a beta of 1.62. The stock has a 50-day simple moving average of C$21.71 and a 200-day simple moving average of C$23.86.

Parex Resources (TSE:PXT) last announced its quarterly earnings results on Thursday, February 29th. The company reported C$1.74 EPS for the quarter, beating analysts’ consensus estimates of C$1.42 by C$0.32. Parex Resources had a return on equity of 25.03% and a net margin of 39.26%. The firm had revenue of C$508.73 million for the quarter. Research analysts forecast that Parex Resources Inc. will post 5.6354916 earnings per share for the current year.

Parex Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a dividend of $0.375 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.50 annualized dividend and a yield of 6.35%. Parex Resources’s payout ratio is 25.55%.

Insider Transactions at Parex Resources

In other news, Senior Officer Imad Mohsen purchased 9,500 shares of the business’s stock in a transaction on Monday, March 18th. The shares were acquired at an average price of C$21.10 per share, with a total value of C$200,450.00. 1.61% of the stock is currently owned by corporate insiders.

About Parex Resources

Parex Resources Inc engages in the exploration, development, production, and marketing of oil and natural gas in Colombia. The company's principal land holdings and exploration blocks are in Colombia Llanos and Magdalena Basin. It has 55% working interest in Block LLA-34; 100% working interest in Cabrestero Block; and 50% working interest in Capachos Block and Block VIM-1.