Parex Resources Inc. (OTCMKTS:PARXF) Short Interest Update

Parex Resources Inc. (OTCMKTS:PARXF) was the target of a significant growth in short interest in August. As of August 14th, there was short interest totaling 1,838,933 shares, a growth of 60.2% from the July 30th total of 1,147,616 shares. Based on an average daily trading volume, of 190,964 shares, the days-to-cover ratio is currently 9.6 days.

Analyst Upgrades and Downgrades

Separately, Scotiabank reiterated a “sector perform” rating on shares of Parex Resources in a research report on Thursday, August 13th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Institutional Investors Weigh In On Parex Resources

A hedge fund recently bought a new position in Parex Resources stock. Alaska Permanent Fund Corp bought a new position in shares of Parex Resources Inc. (OTCMKTS:PARXF) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 653,943 shares of the company’s stock, valued at approximately $2,763,000. Parex Resources accounts for about 0.0% of Alaska Permanent Fund Corp’s investment portfolio, making the stock its 7th largest holding. 33.35% of the stock is currently owned by hedge funds and other institutional investors.

Parex Resources Price Performance

Shares of OTCMKTS PARXF traded up $0.64 during trading on Monday, hitting $20.68. The company had a trading volume of 1,933,249 shares, compared to its average volume of 89,147. Parex Resources has a 52 week low of $11.92 and a 52 week high of $22.14. The business’s 50-day moving average is $17.18 and its 200 day moving average is $18.00.

About Parex Resources

Parex Resources Inc is a Canada-based exploration and production company primarily engaged in the acquisition, development and production of oil resources. The company holds a portfolio of prolific onshore blocks in Colombia, targeting both light and medium crude oil. Parex employs a strategic exploration approach, integrating seismic studies and advanced drilling techniques to optimize reservoir development and enhance recovery rates.

Headquartered in Calgary, Alberta, Parex has focused its operations on Colombia’s Llanos Basin and the Caguan and Putumayo basins.