Parex Resources (TSE:PXT) PT Lowered to C$30.00 at Cormark

Parex Resources (TSE:PXT) had its price objective reduced by Cormark from C$33.00 to C$30.00 in a report released on Thursday morning, BayStreet.CA reports.

Separately, Jefferies Financial Group dropped their target price on shares of Parex Resources from C$27.20 to C$23.80 in a research report on Thursday.

Parex Resources Price Performance

Shares of Parex Resources stock opened at C$17.23 on Thursday. Parex Resources has a twelve month low of C$16.93 and a twelve month high of C$28.23. The company has a quick ratio of 1.45, a current ratio of 1.25 and a debt-to-equity ratio of 3.35. The company has a 50-day simple moving average of C$21.42 and a two-hundred day simple moving average of C$22.04. The stock has a market capitalization of C$1.76 billion, a price-to-earnings ratio of 3.19, a price-to-earnings-growth ratio of 0.21 and a beta of 1.56.

Parex Resources (TSE:PXT) last issued its quarterly earnings data on Wednesday, July 31st. The company reported C$0.05 earnings per share for the quarter. Parex Resources had a net margin of 35.11% and a return on equity of 22.25%. The business had revenue of C$499.23 million during the quarter. Analysts forecast that Parex Resources will post 5.2746479 EPS for the current year.

Parex Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be given a $0.385 dividend. This represents a $1.54 annualized dividend and a dividend yield of 8.94%. The ex-dividend date of this dividend is Monday, September 9th. Parex Resources’s payout ratio is presently 28.52%.

Insider Buying and Selling

In related news, Director Robert John Engbloom bought 10,000 shares of the firm’s stock in a transaction on Friday, May 17th. The shares were purchased at an average price of C$23.22 per share, with a total value of C$232,200.00. 1.54% of the stock is owned by corporate insiders.

Parex Resources Company Profile

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.