Analysts Set Parex Resources Inc. (TSE:PXT) PT at C$21.44

Parex Resources Inc. (TSE:PXT) has earned a consensus recommendation of “Hold” from the six brokerages that are currently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is C$21.44.

Separately, BMO Capital Markets upped their price objective on shares of Parex Resources from C$14.00 to C$16.00 in a research note on Wednesday, January 15th.

Insiders Place Their Bets

In related news, Senior Officer Cam Grainger purchased 13,500 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was purchased at an average cost of C$13.45 per share, with a total value of C$181,575.00. Insiders own 1.64% of the company’s stock.

Parex Resources Trading Up 1.3 %

Shares of PXT opened at C$14.07 on Monday. The firm has a market cap of C$1.42 billion, a price-to-earnings ratio of 3.36, a PEG ratio of 0.21 and a beta of 1.43. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.45 and a current ratio of 1.14. Parex Resources has a 52-week low of C$11.33 and a 52-week high of C$24.88. The business’s fifty day moving average is C$14.43 and its 200-day moving average is C$15.09.

Parex Resources (TSE:PXT) last issued its earnings results on Tuesday, November 5th. The company reported C$0.89 earnings per share (EPS) for the quarter. Parex Resources had a return on equity of 17.02% and a net margin of 26.15%.

Parex Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 16th were given a $0.385 dividend. This represents a $1.54 dividend on an annualized basis and a yield of 10.95%. The ex-dividend date was Monday, December 9th. Parex Resources’s payout ratio is currently 36.75%.

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.