Parex Resources (TSE:PXT) Stock Price Crosses Above 200 Day Moving Average of $20.92

Parex Resources Inc (TSE:PXT) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $20.92 and traded as high as $23.57. Parex Resources shares last traded at $23.26, with a volume of 630,544 shares trading hands.

Several equities analysts have recently issued reports on the stock. Scotiabank boosted their price target on shares of Parex Resources from C$29.00 to C$30.50 in a report on Tuesday, January 14th. Royal Bank of Canada boosted their price target on shares of Parex Resources from C$24.00 to C$25.00 in a report on Monday, October 21st.

The firm has a market cap of $3.34 billion and a price-to-earnings ratio of 11.98. The firm’s fifty day moving average is C$22.75 and its two-hundred day moving average is C$20.92. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.43 and a quick ratio of 2.35.

Parex Resources (TSE:PXT) last posted its quarterly earnings data on Wednesday, November 6th. The company reported C$0.51 earnings per share for the quarter. The company had revenue of C$363.98 million during the quarter. On average, equities analysts forecast that Parex Resources Inc will post 2.6100002 earnings per share for the current fiscal year.

In other Parex Resources news, Director Curtis Darrell Bartlett sold 100,000 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of C$20.66, for a total value of C$2,066,000.00. Following the sale, the director now directly owns 100,000 shares in the company, valued at C$2,066,000. Also, Director Ronald Douglas Miller sold 38,690 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of C$23.00, for a total transaction of C$889,870.00. Following the completion of the sale, the director now owns 25,000 shares in the company, valued at C$575,000. Insiders sold 303,690 shares of company stock valued at $6,494,878 in the last ninety days.

About Parex Resources (TSE:PXT)

Parex Resources Inc engages in the exploration, development, production, and marketing of oil and natural gas in Colombia. The company holds interests in onshore exploration and production blocks totaling approximately 2,037,753 gross acres. As of December 31, 2018, it had proved plus probable reserves of 184.674 million barrels of oil equivalent.

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