Parex Resources (TSE:PXT) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Parex Resources (TSE:PXT) had its price objective raised by research analysts at Royal Bank of Canada from C$15.00 to C$16.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective points to a potential upside of 25.39% from the company’s current price.

Separately, BMO Capital Markets upped their price objective on shares of Parex Resources from C$14.00 to C$16.00 in a report on Wednesday, January 15th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Parex Resources has an average rating of “Hold” and a consensus price target of C$20.21.

Parex Resources Stock Up 1.0 %

Shares of PXT stock opened at C$12.76 on Thursday. The stock’s fifty day moving average price is C$14.33 and its 200 day moving average price is C$14.07. Parex Resources has a 1-year low of C$11.33 and a 1-year high of C$24.88. The company has a market cap of C$895.17 million, a price-to-earnings ratio of 3.49, a price-to-earnings-growth ratio of 0.21 and a beta of 1.43. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.18 and a quick ratio of 1.45.

Insider Transactions at Parex Resources

In other Parex Resources news, Director Sigmund Cornelius bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was bought at an average cost of C$12.61 per share, for a total transaction of C$63,063.00. Also, Senior Officer Cam Grainger purchased 13,500 shares of the stock in a transaction on Thursday, December 12th. The stock was acquired at an average cost of C$13.45 per share, for a total transaction of C$181,575.00. Company insiders own 1.64% of the company’s stock.

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.