Shares of Parex Resources Inc. (OTCMKTS:PARXF) were down 0.2% during trading on Wednesday . The company traded as low as $18.04 and last traded at $18.19. Approximately 19,706 shares traded hands during trading, an increase of 128% from the average daily volume of 8,659 shares. The stock had previously closed at $18.22.
A number of analysts have recently commented on PARXF shares. Scotiabank upped their price objective on Parex Resources from $30.00 to $31.00 and gave the stock an “outperform” rating in a report on Thursday, April 15th. Stifel Nicolaus decreased their price target on shares of Parex Resources from C$33.00 to C$32.00 and set a “buy” rating for the company in a research report on Wednesday, May 19th. National Bank Financial reaffirmed an “outperform” rating on shares of Parex Resources in a research report on Thursday, May 6th. Royal Bank of Canada cut shares of Parex Resources from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, May 12th. Finally, CIBC upped their price objective on shares of Parex Resources from $25.00 to $27.50 and gave the company an “outperform” rating in a research report on Wednesday, March 10th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $28.90.
The stock has a 50 day moving average price of $17.78.
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 2,323,941 gross acres. As of December 31, 2020, it had proved plus probable reserves of 194,491 million barrels of oil equivalent.
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