Imad Mohsen Buys 13,100 Shares of Parex Resources Inc. (TSE:PXT) Stock

Parex Resources Inc. (TSE:PXT) Senior Officer Imad Mohsen purchased 13,100 shares of Parex Resources stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average price of C$13.33 per share, for a total transaction of C$174,623.00.

Parex Resources Price Performance

Shares of TSE:PXT opened at C$13.37 on Thursday. The firm has a market cap of C$1.35 billion, a PE ratio of 3.25, a price-to-earnings-growth ratio of 0.21 and a beta of 1.47. The firm’s fifty day moving average is C$18.98 and its 200-day moving average is C$21.17. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.45 and a current ratio of 1.14. Parex Resources Inc. has a 52 week low of C$11.33 and a 52 week high of C$28.23.

Parex Resources (TSE:PXT) last issued its quarterly earnings results on Wednesday, July 31st. The company reported C$0.05 EPS for the quarter. The company had revenue of C$499.23 million for the quarter. Parex Resources had a net margin of 26.15% and a return on equity of 17.02%. Sell-side analysts predict that Parex Resources Inc. will post 4.0255814 earnings per share for the current year.

Parex Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 16th will be paid a dividend of $0.385 per share. This represents a $1.54 dividend on an annualized basis and a yield of 11.52%. The ex-dividend date of this dividend is Monday, September 9th. Parex Resources’s dividend payout ratio is presently 37.38%.

Analysts Set New Price Targets

A number of analysts have weighed in on PXT shares. Royal Bank of Canada lowered shares of Parex Resources from an “outperform” rating to a “sector perform” rating and cut their target price for the company from C$23.00 to C$17.00 in a research report on Thursday, August 29th. Eight Capital lowered shares of Parex Resources from a “buy” rating to a “neutral” rating and cut their target price for the company from C$32.50 to C$16.00 in a research report on Friday, August 30th. Cormark cut their target price on shares of Parex Resources from C$33.00 to C$30.00 in a research report on Thursday, August 1st. Haywood Securities cut their target price on shares of Parex Resources from C$33.00 to C$25.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Finally, Scotiabank cut their target price on shares of Parex Resources from C$23.00 to C$19.00 and set a “sector perform” rating on the stock in a research report on Friday, August 30th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target 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.