Parex Resources Inc. (TSE:PXT) Receives C$21.86 Average Target Price from Analysts

Shares of Parex Resources Inc. (TSE:PXT) have received an average recommendation of “Hold” from the six ratings firms that are covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is C$21.86.

Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada lowered their price target on shares of Parex Resources from C$17.00 to C$15.00 in a research report on Tuesday, September 17th. BMO Capital Markets upped their target price on Parex Resources from C$13.00 to C$14.00 in a report on Thursday, November 7th.

Parex Resources Stock Performance

PXT stock opened at C$15.19 on Thursday. Parex Resources has a 1-year low of C$11.33 and a 1-year high of C$25.77. The business has a 50-day moving average price of C$14.21 and a 200 day moving average price of C$15.82. The company has a market capitalization of C$1.54 billion, a P/E ratio of 3.63, a PEG ratio of 0.21 and a beta of 1.43. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.14 and a quick ratio of 1.45.

Parex Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 16th were given a dividend of $0.385 per share. This represents a $1.54 dividend on an annualized basis and a dividend yield of 10.14%. The ex-dividend date was Monday, December 9th. Parex Resources’s payout ratio is presently 36.75%.

Insider Activity

In related news, Senior Officer Cam Grainger acquired 13,500 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were purchased at an average price of C$13.45 per share, for a total transaction of C$181,575.00. Company insiders own 1.64% of the company’s stock.

Parex Resources Company Profile

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.