Parex Resources (TSE:PXT) Shares Cross Above 200-Day Moving Average – Time to Sell?

Parex Resources Inc. (TSE:PXT) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$13.73 and traded as high as C$14.10. Parex Resources shares last traded at C$13.80, with a volume of 454,574 shares changing hands.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. BMO Capital Markets lifted their price target on shares of Parex Resources from C$14.00 to C$16.00 in a research note on Wednesday, January 15th. Royal Bank of Canada upped their target price on Parex Resources from C$15.00 to C$16.00 and gave the stock a “sector perform” rating in a report on Thursday, March 6th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of C$20.21.

Parex Resources Trading Down 0.2 %

The company has a 50 day simple moving average of C$13.91 and a 200 day simple moving average of C$13.73. The company has a market capitalization of C$968.13 million, a PE ratio of 3.77, 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 quick ratio of 1.45 and a current ratio of 1.18.

Parex Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 18th were paid a $0.385 dividend. This represents a $1.54 dividend on an annualized basis and a yield of 11.16%. The ex-dividend date of this dividend was Tuesday, March 11th. Parex Resources’s dividend payout ratio is presently 42.12%.

Insider Transactions at Parex Resources

In other news, Director Sigmund Cornelius purchased 5,000 shares of the business’s stock in a transaction on Friday, March 7th. The shares were bought at an average price of C$12.61 per share, with a total value of C$63,063.00. Corporate 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.