Parex Resources Inc. (TSE:PXT) Receives C$20.21 Average Price Target from Analysts

Shares of Parex Resources Inc. (TSE:PXT) have been assigned an average rating of “Hold” from the five research firms that are presently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is C$20.21.

A number of equities analysts have weighed in on PXT shares. Royal Bank of Canada boosted their target price on shares of Parex Resources from C$15.00 to C$16.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 6th. BMO Capital Markets raised their price target on shares of Parex Resources from C$14.00 to C$16.00 in a report on Wednesday, January 15th.

Insider Transactions at Parex Resources

In other news, Senior Officer Imad Mohsen purchased 23,250 shares of the company’s stock in a transaction dated Friday, April 11th. The stock was bought at an average cost of C$10.83 per share, for a total transaction of C$251,797.50. Also, Director Sigmund Cornelius bought 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average price of C$12.61 per share, for a total transaction of C$63,063.00. Corporate insiders own 1.64% of the company’s stock.

Parex Resources Stock Up 5.4%

PXT opened at C$11.98 on Wednesday. The firm has a market cap of C$840.45 million, a price-to-earnings ratio of 3.28, a PEG ratio of 0.21 and a beta of 1.43. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.45 and a current ratio of 1.18. The firm’s 50-day simple moving average is C$12.14 and its 200-day simple moving average is C$13.50. Parex Resources has a twelve month low of C$10.30 and a twelve month high of C$24.55.

Parex Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 18th were given a dividend of $0.385 per share. The ex-dividend date was Tuesday, March 11th. This represents a $1.54 dividend on an annualized basis and a yield of 12.85%. Parex Resources’s dividend payout ratio (DPR) is 42.12%.

About Parex Resources

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.