BMO Capital Markets Issues Positive Forecast for Parex Resources (TSE:PXT) Stock Price

Parex Resources (TSE:PXT) had its price target lifted by stock analysts at BMO Capital Markets from C$14.00 to C$16.00 in a report issued on Wednesday,BayStreet.CA reports. BMO Capital Markets’ price objective suggests a potential upside of 8.11% from the company’s previous close.

Separately, Royal Bank of Canada decreased their price target on Parex Resources from C$17.00 to C$15.00 in a report on Tuesday, September 17th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of C$21.44.

Parex Resources Stock Performance

Shares of TSE PXT opened at C$14.80 on Wednesday. The company has a current ratio of 1.14, a quick ratio of 1.45 and a debt-to-equity ratio of 2.90. The company has a 50 day simple moving average of C$14.47 and a two-hundred day simple moving average of C$15.60. Parex Resources has a 12 month low of C$11.33 and a 12 month high of C$24.88. The stock has a market cap of C$1.50 billion, a price-to-earnings ratio of 3.53, a PEG ratio of 0.21 and a beta of 1.43.

Insider Activity at Parex Resources

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

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.