Parex Resources (TSE:PXT) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Parex Resources (TSE:PXT) had its price objective lifted by equities researchers at BMO Capital Markets from C$14.00 to C$16.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. BMO Capital Markets’ price objective suggests a potential upside of 8.11% from the company’s previous close.

Separately, Royal Bank of Canada cut their price target on shares of Parex Resources from C$17.00 to C$15.00 in a report on Tuesday, September 17th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of C$21.44.

Parex Resources Trading Down 0.5 %

TSE PXT opened at C$14.80 on Wednesday. The stock’s 50-day simple moving average is C$14.47 and its two-hundred day simple moving average is C$15.60. Parex Resources has a twelve month low of C$11.33 and a twelve month high of C$24.88. The company has a quick ratio of 1.45, a current ratio of 1.14 and a debt-to-equity ratio of 2.90. The company has a market capitalization of C$1.50 billion, a price-to-earnings ratio of 3.53, a PEG ratio of 0.21 and a beta of 1.43.

Insider Activity at Parex Resources

In other news, Senior Officer Cam Grainger acquired 13,500 shares of Parex Resources stock in a transaction that occurred on Thursday, December 12th. The shares were bought at an average cost of C$13.45 per share, with a total value of C$181,575.00. 1.64% of the stock is currently owned by corporate insiders.

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.