Parex Resources Inc. (TSE:PXT) Given Consensus Rating of “Hold” by Brokerages

Shares of Parex Resources Inc. (TSE:PXT) have earned a consensus recommendation of “Hold” from the six brokerages that are presently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is C$21.44.

Separately, BMO Capital Markets upped their price target on shares of Parex Resources from C$14.00 to C$16.00 in a research report on Wednesday, January 15th.

Parex Resources Stock Down 2.6 %

Shares of TSE PXT opened at C$14.57 on Friday. The firm’s 50-day simple moving average is C$14.33 and its 200 day simple moving average is C$14.20. The company has a market cap of C$1.02 billion, a price-to-earnings ratio of 3.98, a price-to-earnings-growth ratio of 0.21 and a beta of 1.43. The company has a quick ratio of 1.45, a current ratio of 1.18 and a debt-to-equity ratio of 1.81. Parex Resources has a 12-month low of C$11.33 and a 12-month high of C$24.88.

Parex Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 16th were given a $0.385 dividend. This represents a $1.54 dividend on an annualized basis and a dividend yield of 10.57%. The ex-dividend date of this dividend was Monday, December 9th. Parex Resources’s dividend payout ratio is currently 42.12%.

Insider Transactions at Parex Resources

In related news, Senior Officer Cam Grainger acquired 13,500 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were acquired at an average cost of C$13.45 per share, with a total value of C$181,575.00. 1.64% of the stock is currently owned by 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.