Scotiabank Analysts Give Parex Resources (PXT) a C$27.00 Price Target

Scotiabank set a C$27.00 target price on Parex Resources (TSE:PXT) in a research report released on Thursday morning. The brokerage currently has a focus stock rating on the stock.

A number of other analysts have also recently weighed in on PXT. Eight Capital reduced their price target on Parex Resources from C$24.50 to C$22.00 in a research report on Wednesday, September 27th. Royal Bank of Canada boosted their price target on Parex Resources from C$20.00 to C$24.00 and gave the stock an outperform rating in a research report on Friday, November 10th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Parex Resources has an average rating of Buy and an average price target of C$23.56.

Shares of Parex Resources (TSE PXT) opened at C$19.21 on Thursday. The stock has a market capitalization of $2,970.00, a price-to-earnings ratio of 46.85 and a beta of 0.63. Parex Resources has a 12-month low of C$12.19 and a 12-month high of C$19.34.

In related news, insider Michael Kruchten sold 3,842 shares of the business’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of C$17.96, for a total transaction of C$69,002.32. Also, Director Ronald Douglas Miller acquired 3,100 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The shares were acquired at an average cost of C$17.00 per share, with a total value of C$52,700.00. Insiders have sold a total of 18,842 shares of company stock valued at $338,802 in the last three months.

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About Parex Resources

Parex Resources, Inc is a Canada-based oil and gas company. The Company is engaged in crude oil exploration, development and production in Colombia. The Company’s segments include Canada and Colombia. The Company, through its foreign subsidiaries, holds interests in onshore exploration and production blocks totaling approximately 1,870,120 gross acres.

Analyst Recommendations for Parex Resources (TSE:PXT)

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