Parex Resources Inc. (TSE:PXT) Declares Quarterly Dividend of $0.39

Parex Resources Inc. (TSE:PXT) announced a quarterly dividend on Monday, June 9th, TickerTech Dividends reports. Investors of record on Monday, June 16th will be given a dividend of 0.385 per share on Monday, June 16th. This represents a $1.54 dividend on an annualized basis and a yield of 10.38%. The ex-dividend date is Monday, June 9th.

Parex Resources Trading Up 1.3%

Shares of Parex Resources stock opened at C$14.84 on Friday. Parex Resources has a 1 year low of C$10.30 and a 1 year high of C$22.75. The firm has a market cap of C$1.04 billion, a PE ratio of 4.06, a P/E/G ratio of 0.21 and a beta of 1.43. The stock has a fifty day moving average price of C$12.18 and a 200-day moving average price of C$13.45. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.18 and a quick ratio of 1.45.

Insider Transactions at Parex Resources

In other news, Senior Officer Imad Mohsen acquired 23,250 shares of the stock in a transaction on Friday, April 11th. The stock was acquired at an average price of C$10.83 per share, with a total value of C$251,797.50. Company insiders own 1.64% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada raised their target price on Parex Resources from C$15.00 to C$16.00 and gave the company a “sector perform” rating in a research report on Thursday, March 6th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of C$20.21.

Parex Resources Company Profile

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.