Brokerages Set Parex Resources Inc. (TSE:PXT) Target Price at C$21.44

Shares of Parex Resources Inc. (TSE:PXT) have been assigned an average recommendation of “Hold” from the six brokerages that are currently covering the firm, Marketbeat.com reports. Four investment 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 brokerages that have issued ratings on the stock in the last year is C$21.44.

Separately, BMO Capital Markets lifted their price target on shares of Parex Resources from C$14.00 to C$16.00 in a research note on Wednesday, January 15th.

Parex Resources Price Performance

Shares of TSE PXT opened at C$13.85 on Monday. The stock’s 50-day simple moving average is C$14.39 and its two-hundred day simple moving average is C$15.04. The firm has a market capitalization of C$1.40 billion, a P/E ratio of 3.31, a P/E/G ratio of 0.21 and a beta of 1.43. Parex Resources has a twelve month low of C$11.33 and a twelve month high of C$24.88. The company has a quick ratio of 1.45, a current ratio of 1.14 and a debt-to-equity ratio of 2.90.

Parex Resources (TSE:PXT) last announced its quarterly earnings results on Tuesday, November 5th. The company reported C$0.89 EPS for the quarter. Parex Resources had a return on equity of 17.02% and a net margin of 26.15%.

Parex Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 16th were given a dividend of $0.385 per share. This represents a $1.54 annualized dividend and a yield of 11.12%. The ex-dividend date was Monday, December 9th. Parex Resources’s payout ratio is currently 36.75%.

Insider Buying and Selling at Parex Resources

In related news, Senior Officer Cam Grainger purchased 13,500 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were purchased at an average cost of C$13.45 per share, for a total transaction of C$181,575.00. 1.64% of the stock is currently owned by corporate insiders.

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.