Brokerages Set Parex Resources Inc. (TSE:PXT) PT at C$21.86

Shares of Parex Resources Inc. (TSE:PXT) have been given a consensus rating of “Hold” by the six research firms that are covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is C$21.86.

A number of brokerages have issued reports on PXT. BMO Capital Markets lifted their price target on Parex Resources from C$13.00 to C$14.00 in a report on Thursday, November 7th. Jefferies Financial Group decreased their price target on Parex Resources from C$23.80 to C$19.50 in a report on Thursday, August 29th. Haywood Securities decreased their price target on Parex Resources from C$33.00 to C$25.00 and set a “buy” rating for the company in a report on Friday, August 30th. Royal Bank of Canada reduced their target price on Parex Resources from C$17.00 to C$15.00 in a report on Tuesday, September 17th. Finally, Eight Capital downgraded 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 report on Friday, August 30th.

Parex Resources Stock Up 0.1 %

Shares of TSE PXT opened at C$14.34 on Friday. The company has a market capitalization of C$1.45 billion, a price-to-earnings ratio of 3.42, a price-to-earnings-growth ratio of 0.21 and a beta of 1.43. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.14 and a quick ratio of 1.45. The business has a 50-day moving average of C$13.85 and a two-hundred day moving average of C$16.99. Parex Resources has a 1 year low of C$11.33 and a 1 year high of C$25.78.

Parex Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 16th will be paid a dividend of $0.385 per share. This represents a $1.54 annualized dividend and a yield of 10.74%. The ex-dividend date is Monday, December 9th. Parex Resources’s dividend payout ratio is presently 36.75%.

Insider Buying and Selling at Parex Resources

In related news, Senior Officer Eric Furlan acquired 3,000 shares of Parex Resources stock in a transaction on Friday, September 13th. The stock was purchased at an average cost of C$11.85 per share, with a total value of C$35,550.00. 1.64% of the stock is owned by company insiders.

About Parex Resources

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.