Parex Resources Inc. (OTCMKTS:PARXF – Get Free Report)’s share price passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $16.97 and traded as low as $16.8750. Parex Resources shares last traded at $17.3320, with a volume of 55,728 shares trading hands.
Wall Street Analysts Forecast Growth
Separately, Scotiabank reiterated a “sector perform” rating on shares of Parex Resources in a research note on Monday, June 22nd. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.
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Parex Resources Stock Performance
Parex Resources Company Profile
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.
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