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

Parex Resources Inc. (TSE:PXT) has received a consensus recommendation of “Hold” from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is C$21.86.

A number of brokerages recently commented on PXT. Royal Bank of Canada decreased their price target on Parex Resources from C$17.00 to C$15.00 in a research report on Tuesday, September 17th. BMO Capital Markets boosted their target price on shares of Parex Resources from C$13.00 to C$14.00 in a research report on Thursday, November 7th.

Parex Resources Trading Up 1.2 %

Shares of TSE:PXT opened at C$15.19 on Thursday. The company has a market capitalization of C$1.54 billion, a P/E ratio of 3.63, a P/E/G 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. The business’s 50 day simple moving average is C$14.10 and its 200 day simple moving average is C$15.95. Parex Resources has a 1 year low of C$11.33 and a 1 year high of C$25.77.

Parex Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 16th were given a $0.385 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $1.54 annualized dividend and a yield of 10.14%. Parex Resources’s dividend payout ratio is presently 36.75%.

Insider Transactions at Parex Resources

In related news, Senior Officer Cam Grainger acquired 13,500 shares of the stock in a transaction dated Thursday, December 12th. The stock was bought at an average cost 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.