Parex Resources (TSE:PXT) Stock Passes Above Two Hundred Day Moving Average – What’s Next?

Parex Resources Inc. (TSE:PXT) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$14.21 and traded as high as C$14.35. Parex Resources shares last traded at C$14.10, with a volume of 822,890 shares.

Analysts Set New Price Targets

Separately, BMO Capital Markets raised their target price on Parex Resources from C$14.00 to C$16.00 in a report on Wednesday, January 15th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Parex Resources has a consensus rating of “Hold” and an average target price of C$21.44.

Parex Resources Stock Down 1.5 %

The firm has a 50 day moving average price of C$14.38 and a 200-day moving average price of C$14.18. The firm has a market cap of C$989.17 million, a price-to-earnings ratio of 3.86, a P/E/G ratio of 0.21 and a beta of 1.43. The company has a current ratio of 1.18, a quick ratio of 1.45 and a debt-to-equity ratio of 1.81.

Parex Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 16th were given a $0.385 dividend. This represents a $1.54 dividend on an annualized basis and a dividend yield of 10.92%. The ex-dividend date was Monday, December 9th. Parex Resources’s payout ratio is 42.12%.

Insider Activity

In other news, Senior Officer Cam Grainger acquired 13,500 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was acquired at an average price of C$13.45 per share, for a total transaction of C$181,575.00. Company 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.