Parex Resources Inc. (TSE:PXT) Senior Officer Wayne Kim Foo Buys 4,000 Shares of Stock

Parex Resources Inc. (TSE:PXT) Senior Officer Wayne Kim Foo bought 4,000 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were bought at an average cost of C$13.05 per share, with a total value of C$52,200.00.

Parex Resources Stock Down 2.1 %

Parex Resources stock opened at C$13.25 on Wednesday. The firm has a market cap of C$1.34 billion, a price-to-earnings ratio of 3.22, a P/E/G ratio of 0.21 and a beta of 1.47. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.14 and a quick ratio of 1.45. Parex Resources Inc. has a fifty-two week low of C$11.33 and a fifty-two week high of C$28.23. The firm has a fifty day moving average price of C$19.14 and a two-hundred day moving average price of C$21.22.

Parex Resources (TSE:PXT) last released its earnings results on Wednesday, July 31st. The company reported C$0.05 earnings per share for the quarter. The firm had revenue of C$499.23 million during the quarter. Parex Resources had a net margin of 26.15% and a return on equity of 17.02%. As a group, analysts forecast that Parex Resources Inc. will post 4.0255814 earnings per share for the current year.

Parex Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 16th will be given a dividend of $0.385 per share. This represents a $1.54 dividend on an annualized basis and a dividend yield of 11.62%. The ex-dividend date is Monday, September 9th. Parex Resources’s dividend payout ratio is currently 37.38%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Scotiabank decreased their target price on shares of Parex Resources from C$23.00 to C$19.00 and set a “sector perform” rating for the company in a research note on Friday, August 30th. Royal Bank of Canada lowered shares of Parex Resources from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from C$23.00 to C$17.00 in a research note on Thursday, August 29th. Eight Capital lowered shares of Parex Resources from a “buy” rating to a “neutral” rating and decreased their target price for the company from C$32.50 to C$16.00 in a research note on Friday, August 30th. Cormark decreased their target price on shares of Parex Resources from C$33.00 to C$30.00 in a research note on Thursday, August 1st. Finally, Jefferies Financial Group decreased their target price on shares of Parex Resources from C$23.80 to C$19.50 in a research note on Thursday, August 29th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Parex Resources presently has an average rating of “Hold” and a consensus target price of C$25.27.

Parex Resources Company Profile

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.