Parex Resources (TSE:PXT) Insider Purchases C$499,792.50 in Stock

Parex Resources Inc. (TSE:PXT) insider Imad Mohsen bought 24,250 shares of the stock in a transaction dated Tuesday, July 7th. The stock was purchased at an average price of C$20.61 per share, with a total value of C$499,792.50. Following the acquisition, the insider directly owned 165,410 shares in the company, valued at approximately C$3,409,100.10. The trade was a 17.18% increase in their position.

Imad Mohsen also recently made the following trade(s):

• On Thursday, May 14th, Imad Mohsen acquired 14,600 shares of Parex Resources stock. The stock was purchased at an average cost of C$27.37 per share, for a total transaction of C$399,602.00.

Parex Resources Trading Up 2.0%

Parex Resources stock traded up C$0.41 during mid-day trading on Tuesday, hitting C$21.10. The company’s stock had a trading volume of 1,902,307 shares, compared to its average volume of 940,081. The stock has a market cap of C$2.03 billion, a PE ratio of 11.41, a P/E/G ratio of 0.21 and a beta of 0.19. Parex Resources Inc. has a one year low of C$14.08 and a one year high of C$30.20. The company has a debt-to-equity ratio of 9.51, a quick ratio of 1.45 and a current ratio of 1.49. The company has a 50 day moving average of C$25.48 and a 200-day moving average of C$23.41.

Parex Resources (TSE:PXT) last announced its quarterly earnings data on Tuesday, May 12th. The company reported C$0.07 earnings per share for the quarter. The company had revenue of C$284.35 million during the quarter. Parex Resources had a net margin of 19.59% and a return on equity of 9.34%.

Wall Street Analysts Forecast Growth

PXT has been the subject of a number of research analyst reports. Scotiabank lifted their target price on Parex Resources from C$20.00 to C$29.00 and gave the company a “sector perform” rating in a research report on Monday, June 22nd. Royal Bank Of Canada increased their price target on Parex Resources from C$28.00 to C$32.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 8th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$25.10.

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. Parex depends on a team of geologists and geophysicists, in partnership with technologies such as 3D seismic surveying, to help exploration efforts.