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

Parex Resources Inc. (TSE:PXT) has received an average recommendation of “Hold” from the six ratings firms that are presently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is C$21.44.

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

Parex Resources Trading Up 3.3 %

Shares of PXT stock opened at C$15.52 on Friday. The stock’s fifty day moving average is C$14.25 and its two-hundred day moving average is C$14.37. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.45 and a current ratio of 1.18. The firm has a market capitalization of C$1.09 billion, a P/E ratio of 4.24, a PEG ratio of 0.21 and a beta of 1.43. Parex Resources has a fifty-two week low of C$11.33 and a fifty-two week high of C$24.88.

Parex Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 16th were issued a dividend of $0.385 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $1.54 annualized dividend and a dividend yield of 9.92%. Parex Resources’s dividend payout ratio is presently 42.12%.

Insider Transactions at Parex Resources

In other Parex Resources news, Senior Officer Cam Grainger acquired 13,500 shares of the business’s stock in a transaction that occurred 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 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.