Parex Resources Inc. (TSE:PXT) Receives C$20.21 Average Target Price from Analysts

Shares of Parex Resources Inc. (TSE:PXT) have received a consensus rating of “Hold” from the five brokerages that are presently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is C$20.21.

Several research firms have recently weighed in on PXT. BMO Capital Markets boosted their price objective on shares of Parex Resources from C$14.00 to C$16.00 in a report on Wednesday, January 15th. Royal Bank of Canada boosted their target price on shares of Parex Resources from C$15.00 to C$16.00 and gave the company a “sector perform” rating in a research report on Thursday, March 6th.

Parex Resources Stock Up 1.6 %

Shares of Parex Resources stock opened at C$13.66 on Tuesday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.45 and a current ratio of 1.18. The company has a 50-day simple moving average of C$14.00 and a two-hundred day simple moving average of C$13.77. Parex Resources has a 52-week low of C$11.33 and a 52-week high of C$24.88. The stock has a market capitalization of C$958.31 million, a PE ratio of 3.74, a price-to-earnings-growth ratio of 0.21 and a beta of 1.43.

Parex Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 18th were given a dividend of $0.385 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 11.27%. Parex Resources’s dividend payout ratio is 42.12%.

Insider Buying and Selling

In other Parex Resources news, Director Sigmund Cornelius purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were bought at an average price of C$12.61 per share, with a total value of C$63,063.00. 1.64% of the stock is owned by company insiders.

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.