Parex Resources Inc. (TSE:PXT) Director Buys C$121,040.00 in Stock

Parex Resources Inc. (TSE:PXT) Director Sigmund Cornelius acquired 10,000 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was purchased at an average cost of C$12.10 per share, with a total value of C$121,040.00.

Sigmund Cornelius also recently made the following trade(s):

• On Wednesday, September 4th, Sigmund Cornelius purchased 7,500 shares of Parex Resources stock. The shares were acquired at an average price of C$13.16 per share, with a total value of C$98,718.75.

Parex Resources Price Performance

The company has a fifty day moving average price of C$17.88 and a 200 day moving average price of C$20.81. The stock has a market cap of C$1.20 billion, a P/E ratio of 2.93, a P/E/G ratio of 0.21 and a beta of 1.45. Parex Resources Inc. has a one year low of C$11.33 and a one year high of C$28.23. The company has a quick ratio of 1.45, a current ratio of 1.14 and a debt-to-equity ratio of 2.90.

Parex Resources (TSE:PXT) last announced its quarterly earnings results on Wednesday, July 31st. The company reported C$0.05 earnings per share for the quarter. The business had revenue of C$499.23 million during the quarter. Parex Resources had a return on equity of 17.02% and a net margin of 26.15%. On average, research analysts expect that Parex Resources Inc. will post 2.5941176 earnings per share for the current fiscal year.

Parex Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 16th will be given a $0.385 dividend. The ex-dividend date is Monday, September 9th. This represents a $1.54 annualized dividend and a dividend yield of ∞. Parex Resources’s dividend payout ratio is presently 38.02%.

Analysts Set New Price Targets

PXT has been the subject of a number of research reports. Scotiabank reduced their target price on shares of Parex Resources from C$23.00 to C$19.00 and set a “sector perform” rating for the company in a report on Friday, August 30th. Eight Capital cut Parex Resources from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from C$32.50 to C$16.00 in a research report on Friday, August 30th. Jefferies Financial Group dropped their target price on Parex Resources from C$23.80 to C$19.50 in a report on Thursday, August 29th. Haywood Securities decreased their price target on Parex Resources from C$33.00 to C$25.00 and set a “buy” rating for the company in a report on Friday, August 30th. Finally, Royal Bank of Canada downgraded shares of Parex Resources from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from C$23.00 to C$17.00 in a research report on Thursday, August 29th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of C$25.27.

Parex Resources Company Profile

Parex Resources Inc engages in the exploration, development, production, and marketing of oil and natural gas in Colombia. The company's principal land holdings and exploration blocks are in Colombia Llanos and Magdalena Basin. It has 55% working interest in Block LLA-34; 100% working interest in Cabrestero Block; and 50% working interest in Capachos Block and Block VIM-1.