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

Shares of Parex Resources Inc. (TSE:PXT) have received an average rating of “Hold” from the six ratings firms that are currently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is C$22.97.

Several research firms have recently issued reports on PXT. Royal Bank of Canada cut their price target on Parex Resources from C$17.00 to C$15.00 in a research note on Tuesday, September 17th. 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 lowered their price target 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. BMO Capital Markets set a C$13.00 price objective on shares of Parex Resources and gave the stock a “market perform” rating in a research note on Thursday, September 19th. Finally, Eight Capital lowered Parex Resources from a “buy” rating to a “neutral” rating and reduced their target price for the company from C$32.50 to C$16.00 in a research note on Friday, August 30th.

Parex Resources Trading Down 0.2 %

Shares of Parex Resources stock opened at C$11.98 on Tuesday. The company has a 50-day moving average of C$16.60 and a two-hundred day moving average of C$20.36. Parex Resources has a 12-month low of C$11.33 and a 12-month high of C$28.23. The company has a current ratio of 1.14, a quick ratio of 1.45 and a debt-to-equity ratio of 2.90. The stock has a market cap of C$1.21 billion, a PE ratio of 2.84, a price-to-earnings-growth ratio of 0.21 and a beta of 1.45.

Parex Resources (TSE:PXT) last issued its quarterly earnings data on Wednesday, July 31st. The company reported C$0.05 earnings per share (EPS) for the quarter. The firm had revenue of C$499.23 million during the quarter. Parex Resources had a return on equity of 17.02% and a net margin of 26.15%. On average, research analysts anticipate that Parex Resources will post 2.6732456 EPS for the current fiscal year.

Parex Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 16th were paid a $0.385 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $1.54 annualized dividend and a yield of 12.85%. Parex Resources’s payout ratio is currently 36.49%.

Insiders Place Their Bets

In other Parex Resources news, Senior Officer Wayne Kim Foo acquired 4,000 shares of the stock in a transaction dated Friday, August 30th. The stock was acquired at an average price of C$13.05 per share, with a total value of C$52,200.00. In related news, Senior Officer Imad Mohsen acquired 13,100 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average price of C$13.33 per share, with a total value of C$174,623.00. Also, Senior Officer Wayne Kim Foo bought 4,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was bought at an average cost of C$13.05 per share, for a total transaction of C$52,200.00. Insiders have acquired a total of 54,804 shares of company stock valued at $705,285 in the last quarter. 1.64% of the stock is currently owned by company insiders.

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.