Parex Resources Inc. (TSE:PXT) Given Consensus Rating of “Hold” by Analysts

Shares of Parex Resources Inc. (TSE:PXT) have earned an average recommendation of “Hold” from the five ratings firms that are currently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is C$20.21.

Several analysts have issued reports on PXT shares. Royal Bank of Canada upped their target price on 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. BMO Capital Markets upped their target price on Parex Resources from C$14.00 to C$16.00 in a research note on Wednesday, January 15th.

Parex Resources Stock Down 1.2 %

Shares of PXT opened at C$13.49 on Tuesday. The firm has a market cap of C$946.38 million, a P/E ratio of 3.69, a P/E/G ratio of 0.21 and a beta of 1.43. The stock has a 50 day simple moving average of C$13.96 and a two-hundred day simple moving average of C$13.72. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.18 and a quick ratio of 1.45. Parex Resources has a 1 year low of C$11.33 and a 1 year high of C$24.88.

Parex Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 18th were issued a $0.385 dividend. This represents a $1.54 annualized dividend and a dividend yield of 11.42%. The ex-dividend date of this dividend was Tuesday, March 11th. Parex Resources’s dividend payout ratio is 42.12%.

Insider Transactions at Parex Resources

In related news, Director Sigmund Cornelius purchased 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average price of C$12.61 per share, for a total transaction of C$63,063.00. 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.