Insider Selling: Parex Resources (TSE:PXT) Insider Sells C$233,600.00 in Stock

Parex Resources Inc. (TSE:PXT) insider Eric Furlan sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, October 22nd. The stock was sold at an average price of C$29.20, for a total value of C$233,600.00. Following the completion of the sale, the insider owned 111,301 shares in the company, valued at approximately C$3,249,989.20. This represents a 6.71% decrease in their position.

Parex Resources Price Performance

Shares of Parex Resources stock traded down C$0.10 during trading hours on Thursday, reaching C$29.18. The stock had a trading volume of 571,228 shares, compared to its average volume of 881,531. The stock’s 50 day moving average is C$28.01 and its 200 day moving average is C$26.11. The firm has a market capitalization of C$2.81 billion, a PE ratio of 4.90, a PEG ratio of 0.21 and a beta of 0.17. Parex Resources Inc. has a twelve month low of C$17.12 and a twelve month high of C$30.20. The company has a current ratio of 0.88, a quick ratio of 1.45 and a debt-to-equity ratio of 34.66.

Parex Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 15th were paid a $0.3850 dividend. This represents a $1.54 annualized dividend and a dividend yield of 5.3%. The ex-dividend date was Tuesday, September 8th. Parex Resources’s payout ratio is currently 18.57%.

Analysts Set New Price Targets

Separately, Scotiabank raised their price objective on Parex Resources from C$29.00 to C$30.00 and gave the company 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. Based on data from MarketBeat.com, Parex Resources presently has an average rating of “Hold” and a consensus target price of C$26.62.

About Parex Resources

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.