Parex Resources (TSE:PXT) Share Price Passes Above 200 Day Moving Average – Time to Sell?

Parex Resources Inc. (TSE:PXT) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$13.74 and traded as high as C$13.76. Parex Resources shares last traded at C$13.72, with a volume of 344,839 shares changing hands.

Analyst Ratings Changes

A number of analysts have weighed in on PXT shares. BMO Capital Markets increased their target price on Parex Resources from C$14.00 to C$16.00 in a research note on Wednesday, January 15th. Royal Bank of Canada raised their price target on shares of Parex Resources from C$15.00 to C$16.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 6th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of C$20.21.

Parex Resources Price Performance

The firm has a fifty day moving average of C$13.69 and a two-hundred day moving average of C$13.73. The stock has a market capitalization of C$795.55 million, a P/E ratio of 3.10, a P/E/G ratio of 0.21 and a beta of 1.43. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.18 and a quick ratio of 1.45.

Parex Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 18th were paid a $0.385 dividend. This represents a $1.54 dividend on an annualized basis and a yield of 13.58%. The ex-dividend date was Tuesday, March 11th. Parex Resources’s dividend payout ratio (DPR) is 42.12%.

Insider Buying and Selling at Parex Resources

In other news, Director Sigmund Cornelius purchased 5,000 shares of the stock in a transaction dated Friday, March 7th. The shares were acquired at an average cost of C$12.61 per share, for a total transaction of C$63,063.00. Insiders own 1.64% of the company’s stock.

About Parex Resources

Parex Resources Inc engages in exploration, development, and production of crude oil. The company brings technology utilized in the Western Canada Sedimentary Basin to South American basins with large oil-in-place potential. Majority of the company’s properties are focused in Colombia, where it pays a royalty or tax to the government for its operations.