Parex Resources Inc. (TSE:PXT) Receives C$21.44 Consensus Price Target from Brokerages

Shares of Parex Resources Inc. (TSE:PXT) have been assigned an average recommendation of “Hold” from the six analysts that are presently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is C$21.44.

Separately, BMO Capital Markets lifted their price objective on shares of Parex Resources from C$14.00 to C$16.00 in a research report on Wednesday, January 15th.

Insider Buying and Selling at Parex Resources

In other news, Senior Officer Cam Grainger purchased 13,500 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was purchased at an average cost of C$13.45 per share, with a total value of C$181,575.00. Insiders own 1.64% of the company’s stock.

Parex Resources Stock Performance

PXT stock opened at C$13.85 on Monday. The business has a 50 day moving average of C$14.39 and a 200-day moving average of C$14.96. The firm has a market cap of C$1.40 billion, a PE ratio of 3.31, a P/E/G ratio of 0.21 and a beta of 1.43. Parex Resources has a 12-month low of C$11.33 and a 12-month high of C$24.88. The company has a quick ratio of 1.45, a current ratio of 1.14 and a debt-to-equity ratio of 2.90.

Parex Resources (TSE:PXT) last announced its quarterly earnings data on Tuesday, November 5th. The company reported C$0.89 earnings per share (EPS) for the quarter. Parex Resources had a return on equity of 17.02% and a net margin of 26.15%.

Parex Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 16th were issued a $0.385 dividend. This represents a $1.54 annualized dividend and a yield of 11.12%. The ex-dividend date was Monday, December 9th. Parex Resources’s dividend payout ratio (DPR) is presently 36.75%.

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.