Parex Resources Inc. (TSE:PXT) Receives Consensus Recommendation of “Hold” from Brokerages

Parex Resources Inc. (TSE:PXT) has earned an average rating of “Hold” from the six brokerages that are presently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is C$21.86.

Several equities research analysts have recently issued reports on the company. BMO Capital Markets raised their price objective on Parex Resources from C$13.00 to C$14.00 in a research note on Thursday, November 7th. Royal Bank of Canada lowered their price target on Parex Resources from C$17.00 to C$15.00 in a research report on Tuesday, September 17th.

Parex Resources Stock Up 6.7 %

Shares of TSE:PXT opened at C$14.58 on Thursday. The company has a market cap of C$1.48 billion, a price-to-earnings ratio of 3.48, a PEG ratio of 0.21 and a beta of 1.43. Parex Resources has a 12 month low of C$11.33 and a 12 month high of C$25.77. 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 company has a 50-day moving average price of C$14.02 and a 200 day moving average price of C$16.05.

Parex Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 16th were given a dividend of $0.385 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $1.54 annualized dividend and a dividend yield of 10.56%. Parex Resources’s dividend payout ratio (DPR) is 36.75%.

Insider Transactions at Parex Resources

In related news, Senior Officer Cam Grainger purchased 13,500 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was purchased at an average price of C$13.45 per share, with a total value of C$181,575.00. Company insiders own 1.64% of the company’s stock.

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.