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

Parex Resources (TSE:PXT) 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.

Parex Resources Stock Down 2.2 %

PXT stock opened at C$14.05 on Thursday. The stock has a market cap of C$1.42 billion, a P/E ratio of 3.35, a P/E/G ratio of 0.21 and a beta of 1.43. The company has a current ratio of 1.14, a quick ratio of 1.45 and a debt-to-equity ratio of 2.90. The stock’s fifty day simple moving average is C$12.85 and its two-hundred day simple moving average is C$18.45. Parex Resources has a 1-year low of C$11.33 and a 1-year high of C$28.23.

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.