Cam Grainger Purchases 2,000 Shares of Parex Resources (TSE:PXT) Stock

Parex Resources Inc. (TSE:PXT) insider Cam Grainger purchased 2,000 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was bought at an average cost of C$27.40 per share, for a total transaction of C$54,800.00. Following the acquisition, the insider owned 43,584 shares in the company, valued at approximately C$1,194,201.60. The trade was a 4.81% increase in their position.

Parex Resources Price Performance

Shares of PXT opened at C$27.22 on Wednesday. The company has a market cap of C$2.62 billion, a P/E ratio of 4.57, a PEG ratio of 0.21 and a beta of 0.18. The stock has a fifty day moving average price of C$23.99 and a 200 day moving average price of C$24.80. The company has a debt-to-equity ratio of 34.66, a current ratio of 0.88 and a quick ratio of 1.45. Parex Resources Inc. has a 12 month low of C$16.25 and a 12 month high of C$30.20.

Analyst Upgrades and Downgrades

Separately, Scotiabank lifted their price objective on shares of Parex Resources from C$29.00 to C$30.00 and gave the company a “sector perform” rating in a research report on Thursday, August 13th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Parex Resources presently has an average rating of “Moderate Buy” and an average price target of C$25.30.

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