Parex Resources (TSE:PXT) PT Set at C$13.00 by BMO Capital Markets

Parex Resources (TSE:PXT) has been assigned a C$13.00 target price by equities researchers at BMO Capital Markets in a research report issued on Thursday, BayStreet.CA reports. The brokerage currently has a “market perform” rating on the stock. BMO Capital Markets’ price objective indicates a potential upside of 8.24% from the stock’s previous close.

Several other analysts have also recently weighed in on the stock. Scotiabank reduced their price objective on shares of Parex Resources from C$23.00 to C$19.00 and set a “sector perform” rating on the stock in a research note on Friday, August 30th. Royal Bank of Canada reduced their price objective on shares of Parex Resources from C$17.00 to C$15.00 in a research note on Tuesday. Haywood Securities reduced their price objective on shares of Parex Resources from C$33.00 to C$25.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Jefferies Financial Group reduced their price objective on shares of Parex Resources from C$23.80 to C$19.50 in a research note on Thursday, August 29th. Finally, Cormark reduced their price objective on shares of Parex Resources from C$33.00 to C$30.00 in a research note on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Parex Resources currently has a consensus rating of “Hold” and a consensus price target of C$22.97.

Parex Resources Stock Down 0.9 %

Shares of TSE:PXT opened at C$12.01 on Thursday. The company has a fifty day moving average of C$16.79 and a 200-day moving average of C$20.42. The company has a market capitalization of C$1.22 billion, a PE ratio of 2.85, a price-to-earnings-growth ratio of 0.21 and a beta of 1.45. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.45 and a current ratio of 1.14. Parex Resources has a 52-week low of C$11.33 and a 52-week high of C$28.23.

Parex Resources (TSE:PXT) last announced its quarterly earnings results on Wednesday, July 31st. The company reported C$0.05 earnings per share (EPS) for the quarter. The company had revenue of C$499.23 million during the quarter. Parex Resources had a net margin of 26.15% and a return on equity of 17.02%. On average, equities analysts predict that Parex Resources will post 2.6732456 EPS for the current fiscal year.

Insider Buying and Selling at Parex Resources

In other news, Senior Officer Eric Furlan purchased 3,000 shares of the business’s stock in a transaction on Friday, September 13th. The shares were acquired at an average price of C$11.85 per share, with a total value of C$35,550.00. In related news, Senior Officer Eric Furlan acquired 3,000 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were purchased at an average price of C$11.85 per share, for a total transaction of C$35,550.00. Also, Senior Officer Imad Mohsen acquired 13,100 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average price of C$13.33 per share, for a total transaction of C$174,623.00. Over the last quarter, insiders have bought 54,804 shares of company stock valued at $705,285. 1.64% of the stock is currently owned by insiders.

About Parex Resources

Parex Resources Inc engages in the exploration, development, production, and marketing of oil and natural gas in Colombia. The company's principal land holdings and exploration blocks are in Colombia Llanos and Magdalena Basin. It has 55% working interest in Block LLA-34; 100% working interest in Cabrestero Block; and 50% working interest in Capachos Block and Block VIM-1.