Parex Resources (TSE:PXT – Get Free Report) had its price target reduced by research analysts at Royal Bank of Canada from C$17.00 to C$15.00 in a research note issued on Tuesday, BayStreet.CA reports. Royal Bank of Canada’s price objective would indicate a potential upside of 23.97% from the company’s current price.
Several other analysts also recently issued reports on the company. Scotiabank decreased their price target on Parex Resources from C$23.00 to C$19.00 and set a “sector perform” rating for the company in a research note on Friday, August 30th. Jefferies Financial Group decreased their target price on Parex Resources from C$23.80 to C$19.50 in a research report on Thursday, August 29th. Cormark dropped their price target on shares of Parex Resources from C$33.00 to C$30.00 in a research report on Thursday, August 1st. Eight Capital downgraded shares of Parex Resources from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from C$32.50 to C$16.00 in a report on Friday, August 30th. Finally, Haywood Securities lowered their target price on shares of Parex Resources from C$33.00 to C$25.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of C$25.07.
View Our Latest Stock Analysis on PXT
Parex Resources Price Performance
Parex Resources (TSE:PXT – Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The company reported C$0.05 earnings per share (EPS) for the quarter. The business had revenue of C$499.23 million during the quarter. Parex Resources had a net margin of 26.15% and a return on equity of 17.02%. As a group, equities analysts predict that Parex Resources will post 2.6732456 earnings per share for the current fiscal year.
Insider Activity at Parex Resources
In related news, Senior Officer Imad Mohsen purchased 13,100 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were bought at an average cost of C$13.33 per share, for a total transaction of C$174,623.00. In other news, Senior Officer Eric Furlan acquired 3,000 shares of the stock in a transaction dated Friday, September 13th. The shares were acquired at an average cost of C$11.85 per share, for a total transaction of C$35,550.00. Also, Senior Officer Imad Mohsen bought 13,100 shares of Parex Resources stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average cost of C$13.33 per share, with a total value of C$174,623.00. Insiders purchased a total of 54,804 shares of company stock worth $705,285 in the last ninety days. 1.64% of the stock is currently owned by insiders.
Parex Resources Company Profile
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.
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