Parex Resources (TSE:PXT – Get Free Report) had its target price raised by investment analysts at BMO Capital Markets from C$13.00 to C$14.00 in a research note issued to investors on Thursday,BayStreet.CA reports. BMO Capital Markets’ price target points to a potential downside of 0.36% from the stock’s previous close.
A number of other equities analysts have also weighed in on the stock. Cormark cut their target price on shares of Parex Resources from C$33.00 to C$30.00 in a research report on Thursday, August 1st. Scotiabank reduced their price objective on shares of 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. 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 research report on Friday, August 30th. Jefferies Financial Group cut their price target on Parex Resources from C$23.80 to C$19.50 in a report on Thursday, August 29th. Finally, Royal Bank of Canada dropped their price objective on Parex Resources from C$17.00 to C$15.00 in a report on Tuesday, September 17th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of C$21.86.
Get Our Latest Research Report on PXT
Parex Resources Stock Down 2.2 %
Insider Buying and Selling at Parex Resources
In related news, Director G.R. (Bob) Mac Dougall purchased 7,674 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were purchased 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 bought 7,674 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were purchased at an average price of C$13.05 per share, for a total transaction of C$100,115.00. Also, Senior Officer Eric Furlan acquired 3,000 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was purchased at an average price of C$11.85 per share, with a total value of C$35,550.00. Over the last 90 days, insiders bought 54,804 shares of company stock valued at $705,285. 1.64% of the stock is currently owned by company insiders.
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.
See Also
- Five stocks we like better than Parex Resources
- There Are Different Types of Stock To Invest In
- Dot Ai IPO: CEO Ed Nabrotzky Shares Vision for Logistics Future
- 3 Stocks to Protect Your Portfolio from the Coronavirus Contagion
- The Hottest Markets to Watch After the Fed’s 25 Bps Rate Cut
- NYSE Stocks Give Investors a Variety of Quality OptionsÂ
- The Top 5 Performing S&P 500 Stocks YTD in 2024
Receive News & Ratings for Parex Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parex Resources and related companies with MarketBeat.com's FREE daily email newsletter.