Parex Resources Inc. (TSE:PXT) Receives C$20.21 Consensus PT from Brokerages

Shares of Parex Resources Inc. (TSE:PXT) have received an average rating of “Hold” from the five analysts that are currently covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is C$20.21.

PXT has been the subject of several recent research reports. Royal Bank of Canada raised their price objective on Parex Resources from C$15.00 to C$16.00 and gave the company a “sector perform” rating in a research report on Thursday, March 6th. BMO Capital Markets raised their price objective on Parex Resources from C$14.00 to C$16.00 in a research report on Wednesday, January 15th.

Insider Transactions at Parex Resources

In other Parex Resources news, Director Sigmund Cornelius bought 5,000 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was acquired at an average price of C$12.61 per share, with a total value of C$63,063.00. 1.64% of the stock is owned by insiders.

Parex Resources Stock Performance

Shares of Parex Resources stock opened at C$13.49 on Tuesday. The company has a current ratio of 1.18, a quick ratio of 1.45 and a debt-to-equity ratio of 1.81. The firm has a market capitalization of C$946.38 million, a P/E ratio of 3.69, a P/E/G ratio of 0.21 and a beta of 1.43. The business has a fifty day simple moving average of C$13.96 and a two-hundred day simple moving average of C$13.72. Parex Resources has a 12 month low of C$11.33 and a 12 month high of C$24.88.

Parex Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 18th were given a $0.385 dividend. This represents a $1.54 annualized dividend and a dividend yield of 11.42%. The ex-dividend date was Tuesday, March 11th. Parex Resources’s dividend payout ratio is presently 42.12%.

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.