Analysts Set Parex Resources Inc. (TSE:PXT) PT at C$22.97

Shares of Parex Resources Inc. (TSE:PXT) have earned an average recommendation of “Hold” from the six ratings firms that are covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is C$22.97.

PXT has been the subject of several research analyst reports. Scotiabank reduced their target price on shares of Parex Resources from C$23.00 to C$19.00 and set a “sector perform” rating for the company in a report on Friday, August 30th. Royal Bank of Canada lowered their target price on Parex Resources from C$17.00 to C$15.00 in a research note on Tuesday, September 17th. Haywood Securities decreased their price objective on Parex Resources from C$33.00 to C$25.00 and set a “buy” rating on the stock in a report on Friday, August 30th. Eight Capital downgraded Parex Resources from a “buy” rating to a “neutral” rating and dropped their target price for the stock from C$32.50 to C$16.00 in a report on Friday, August 30th. Finally, Cormark reduced their target price on shares of Parex Resources from C$33.00 to C$30.00 in a research report on Thursday, August 1st.

Insider Transactions at Parex Resources

In other Parex Resources news, Senior Officer Imad Mohsen bought 13,100 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average price of C$13.33 per share, for a total transaction of C$174,623.00. In related news, Senior Officer Imad Mohsen bought 13,100 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average cost of C$13.33 per share, with a total value of C$174,623.00. Also, Senior Officer Eric Furlan purchased 3,000 shares of Parex Resources stock in a transaction on Friday, September 13th. The stock was bought at an average price of C$11.85 per share, with a total value of C$35,550.00. Insiders bought a total of 54,804 shares of company stock worth $705,285 over the last three months. 1.64% of the stock is owned by company insiders.

Parex Resources Stock Performance

Shares of PXT stock opened at C$13.13 on Friday. Parex Resources has a 52 week low of C$11.33 and a 52 week high of C$28.23. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.45 and a current ratio of 1.14. The company’s 50 day moving average price is C$14.01 and its two-hundred day moving average price is C$19.32. The company has a market capitalization of C$1.33 billion, a P/E ratio of 3.13, a price-to-earnings-growth ratio of 0.21 and a beta of 1.43.

Parex Resources (TSE:PXT) last posted 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 return on equity of 17.02% and a net margin of 26.15%.

Parex Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 16th were issued a dividend of $0.385 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $1.54 annualized dividend and a yield of 11.73%. Parex Resources’s payout ratio is 36.75%.

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.