Parex Resources (TSE:PXT) Stock Crosses Above 200-Day Moving Average – Should You Sell?

Parex Resources Inc. (TSE:PXT)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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 trading hands.

Analyst Ratings Changes

A number of brokerages have recently commented on PXT. BMO Capital Markets lifted their target price on Parex Resources from C$14.00 to C$16.00 in a report on Wednesday, January 15th. Royal Bank of Canada lifted their price objective 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 investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Parex Resources has a consensus rating of “Hold” and a consensus target price of C$20.21.

Parex Resources Stock Performance

The company has a quick ratio of 1.45, a current ratio of 1.18 and a debt-to-equity ratio of 1.81. The business has a 50 day moving average price of C$13.78 and a 200 day moving average price of C$13.74. The stock has a market cap of C$962.52 million, a P/E ratio of 3.75, a PEG ratio of 0.21 and a beta of 1.43.

Parex Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 18th were given a $0.385 dividend. This represents a $1.54 annualized dividend and a yield of 11.22%. The ex-dividend date of this dividend was Tuesday, March 11th. Parex Resources’s dividend payout ratio (DPR) is presently 42.12%.

Insiders Place Their Bets

In related news, Director Sigmund Cornelius bought 5,000 shares of the company’s stock in a transaction on 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.