Parex Resources (TSE:PXT – Get Free Report) received a C$13.00 price objective from investment analysts at BMO Capital Markets in a research note issued on Thursday, BayStreet.CA reports. The brokerage currently has a “market perform” rating on the stock. BMO Capital Markets’ target price indicates a potential upside of 7.00% from the company’s current price.
Several other research analysts have also recently weighed in on the stock. Eight Capital cut shares of Parex Resources from a “buy” rating to a “neutral” rating and lowered their price target for the company from C$32.50 to C$16.00 in a report on Friday, August 30th. Cormark lowered their target price on shares of Parex Resources from C$33.00 to C$30.00 in a report on Thursday, August 1st. Royal Bank of Canada reduced their price target on shares of Parex Resources from C$17.00 to C$15.00 in a research report on Tuesday. Scotiabank reduced their price target on shares of Parex Resources from C$23.00 to C$19.00 and set a “sector perform” rating on the stock in a research report on Friday, August 30th. Finally, Jefferies Financial Group reduced their price target on shares of Parex Resources from C$23.80 to C$19.50 in a research report on Thursday, August 29th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of C$22.97.
Read Our Latest Stock Report on PXT
Parex Resources Stock Up 0.4 %
Parex Resources (TSE:PXT – Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The company reported C$0.05 EPS for the quarter. Parex Resources had a net margin of 26.15% and a return on equity of 17.02%. The company had revenue of C$499.23 million during the quarter. On average, research analysts forecast that Parex Resources will post 2.6732456 earnings per share for the current fiscal year.
Insider Activity
In other news, Director G.R. (Bob) Mac Dougall acquired 7,674 shares of Parex Resources stock in a transaction on Friday, August 30th. The stock was acquired at an average cost of C$13.05 per share, with a total value of C$100,115.00. In other news, Director G.R. (Bob) Mac Dougall acquired 7,674 shares of Parex Resources stock in a transaction on Friday, August 30th. The stock was acquired at an average cost of C$13.05 per share, with a total value of C$100,115.00. Also, Senior Officer Eric Furlan acquired 3,000 shares of Parex Resources stock in a transaction on Friday, September 13th. The stock was purchased at an average cost of C$11.85 per share, with a total value of C$35,550.00. Over the last 90 days, insiders have purchased 54,804 shares of company stock worth $705,285. Company insiders own 1.64% of the company’s stock.
About Parex Resources
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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