Parex Resources (TSE:PXT) Shares Break Above 200 Day Moving Average – Time to Sell?

Parex Resources Inc. (TSE:PXT) shares passed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of C$25.99 and traded as high as C$28.28. Parex Resources shares last traded at C$27.23, with a volume of 682,741 shares.

Analyst Upgrades and Downgrades

Separately, Scotiabank upped their target price on Parex Resources from C$29.00 to C$30.00 and gave the stock a “sector perform” rating in a report on Thursday, August 13th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of C$26.62.

Parex Resources Trading Down 3.5%

The stock has a 50-day moving average of C$27.33 and a 200 day moving average of C$25.99. The stock has a market cap of C$2.62 billion, a PE ratio of 4.58, a price-to-earnings-growth ratio of 0.21 and a beta of 0.17. The company has a quick ratio of 1.45, a current ratio of 0.88 and a debt-to-equity ratio of 34.66.

Parex Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 15th were issued a $0.3850 dividend. The ex-dividend date of this dividend was Tuesday, September 8th. This represents a $1.54 annualized dividend and a yield of 5.7%. Parex Resources’s dividend payout ratio (DPR) is 18.57%.

Insiders Place Their Bets

In related news, insider Cam Grainger bought 2,000 shares of the stock in a transaction on Monday, August 24th. The shares were bought at an average cost of C$27.40 per share, for a total transaction of C$54,800.00. Following the purchase, the insider owned 43,584 shares of the company’s stock, valued at C$1,194,201.60. This trade represents a 4.81% increase in their position. 1.64% of the stock is currently owned by company insiders.

Parex Resources Company Profile

Parex is the largest independent oil and gas company in Colombia, focusing on sustainable conventional production. The Company’s corporate headquarters are in Calgary, Canada, with an operating office in Bogota, Colombia.