Parex Resources (TSE:PXT) Stock Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Shares of Parex Resources Inc. (TSE:PXT) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$25.55 and traded as high as C$29.64. Parex Resources shares last traded at C$28.87, with a volume of 1,192,728 shares.

Wall Street Analysts Forecast Growth

Separately, Scotiabank upped their target price on 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. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Parex Resources has an average rating of “Hold” and an average price target of C$26.62.

Parex Resources Trading Down 4.7%

The business’s 50-day moving average price is C$25.80 and its 200-day moving average price is C$25.61. The firm has a market capitalization of C$2.73 billion, a PE ratio of 4.78, a price-to-earnings-growth ratio of 0.21 and a beta of 0.13. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 15th were issued a $0.385 dividend. This represents a $1.54 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date of this dividend was Tuesday, September 8th. Parex Resources’s dividend payout ratio is presently 18.57%.

Insider Activity

In other Parex Resources news, insider Cam Grainger bought 2,000 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was acquired at an average price of C$27.40 per share, for a total transaction of C$54,800.00. Following the completion of the purchase, the insider owned 43,584 shares of the company’s stock, valued at approximately C$1,194,201.60. This represents a 4.81% increase in their ownership of the stock. Also, insider Imad Mohsen purchased 24,250 shares of the stock in a transaction that occurred on Tuesday, July 7th. The shares were bought at an average cost of C$20.61 per share, for a total transaction of C$499,792.50. Following the acquisition, the insider owned 165,410 shares of the company’s stock, valued at approximately C$3,409,100.10. The trade was a 17.18% increase in their ownership of the stock. 1.64% of the stock is currently owned by corporate insiders.

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.