Royal Bank of Canada Issues Positive Forecast for Parex Resources (TSE:PXT) Stock Price

Parex Resources (TSE:PXT) had its price objective increased by stock analysts at Royal Bank of Canada from C$15.00 to C$16.00 in a research report issued on Thursday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective suggests a potential upside of 25.39% from the company’s previous close.

Separately, BMO Capital Markets increased their target price on shares of Parex Resources from C$14.00 to C$16.00 in a research report on Wednesday, January 15th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of C$20.21.

Parex Resources Stock Up 1.0 %

Shares of PXT opened at C$12.76 on Thursday. The stock has a 50 day moving average price of C$14.33 and a 200 day moving average price of C$14.07. Parex Resources has a one year low of C$11.33 and a one year high of C$24.88. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.45 and a current ratio of 1.18. The stock has a market capitalization of C$895.17 million, a price-to-earnings ratio of 3.49, a PEG ratio of 0.21 and a beta of 1.43.

Insiders Place Their Bets

In other Parex Resources news, Director Sigmund Cornelius acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were purchased at an average cost of C$12.61 per share, for a total transaction of C$63,063.00. Also, Senior Officer Cam Grainger acquired 13,500 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was acquired at an average price of C$13.45 per share, with a total value of C$181,575.00. Corporate insiders own 1.64% of the company’s stock.

About Parex Resources

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.