Parex Resources Inc. (TSE:PXT) Senior Officer Buys C$251,797.50 in Stock

Parex Resources Inc. (TSE:PXT) Senior Officer Imad Mohsen bought 23,250 shares of the business’s stock in a transaction that occurred on Friday, April 11th. The stock was bought at an average price of C$10.83 per share, with a total value of C$251,797.50.

Parex Resources Price Performance

PXT opened at C$11.09 on Friday. Parex Resources Inc. has a 12-month low of C$10.30 and a 12-month high of C$24.88. The company has a market cap of C$778.01 million, a price-to-earnings ratio of 3.03, a price-to-earnings-growth ratio of 0.21 and a beta of 1.43. The stock has a fifty day simple moving average of C$13.30 and a two-hundred day simple moving average of C$13.69. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 18th were issued a dividend of $0.385 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.54 annualized dividend and a dividend yield of 13.89%. Parex Resources’s payout ratio is 42.12%.

Wall Street Analyst Weigh In

A number of research analysts have commented on PXT shares. BMO Capital Markets increased their price target on shares of Parex Resources from C$14.00 to C$16.00 in a research report on Wednesday, January 15th. Royal Bank of Canada boosted their price target on Parex Resources from C$15.00 to C$16.00 and gave the company a “sector perform” rating in a report on Thursday, March 6th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of C$20.21.

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.