Parex Resources (TSE:PXT) Share Price Crosses Above Two Hundred Day Moving Average of $23.86

Parex Resources Inc. (TSE:PXT) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$23.86 and traded as high as C$23.88. Parex Resources shares last traded at C$23.61, with a volume of 399,570 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PXT. TD Securities lowered their price target on Parex Resources from C$28.70 to C$27.20 in a research note on Tuesday, January 16th. Stifel Nicolaus decreased their price target on shares of Parex Resources from C$32.75 to C$31.00 and set a “buy” rating for the company in a report on Monday, March 4th. Royal Bank of Canada lowered their price objective on shares of Parex Resources from C$32.00 to C$28.00 and set an “outperform” rating for the company in a research report on Friday, March 1st. Finally, Scotiabank decreased their target price on Parex Resources from C$28.00 to C$27.00 and set a “sector perform” rating for the company in a research note on Friday, March 1st.

Parex Resources Trading Up 0.6 %

The firm has a market capitalization of C$2.45 billion, a price-to-earnings ratio of 4.04, a price-to-earnings-growth ratio of 0.21 and a beta of 1.62. The company has a quick ratio of 1.45, a current ratio of 1.31 and a debt-to-equity ratio of 4.93. The business’s fifty day moving average is C$21.75 and its 200 day moving average is C$23.85.

Parex Resources (TSE:PXT) last released its quarterly earnings results on Thursday, February 29th. The company reported C$1.74 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.42 by C$0.32. The firm had revenue of C$508.73 million for the quarter. Parex Resources had a return on equity of 25.03% and a net margin of 39.26%. Equities analysts predict that Parex Resources Inc. will post 5.6354916 earnings per share for the current year.

Parex Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 6.32%. The ex-dividend date of this dividend was Thursday, March 14th. Parex Resources’s dividend payout ratio (DPR) is currently 25.55%.

Insider Buying and Selling at Parex Resources

In related news, Senior Officer Imad Mohsen bought 9,500 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were acquired at an average price of C$21.10 per share, with a total value of C$200,450.00. Company insiders own 1.61% of the company’s stock.

About Parex Resources

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.