Brokerages Set Parex Resources Inc. (TSE:PXT) Price Target at C$22.97

Parex Resources Inc. (TSE:PXTGet Free Report) has been assigned an average recommendation of “Hold” from the six research firms that are currently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is C$22.97.

PXT has been the subject of a number of analyst reports. Scotiabank reduced their target price 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 shares of Parex Resources from a “buy” rating to a “neutral” rating and reduced their price target for the company from C$32.50 to C$16.00 in a report on Friday, August 30th. Haywood Securities reduced their target price on Parex Resources from C$33.00 to C$25.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Royal Bank of Canada dropped their target price on Parex Resources from C$17.00 to C$15.00 in a report on Tuesday, September 17th. Finally, BMO Capital Markets set a C$13.00 price objective on shares of Parex Resources and gave the stock a “market perform” rating in a report on Thursday, September 19th.

Read Our Latest Stock Analysis on PXT

Insider Buying and Selling

In related news, Senior Officer Eric Furlan purchased 3,000 shares of Parex Resources stock in a transaction dated Friday, September 13th. The shares were acquired at an average cost of C$11.85 per share, for a total transaction of C$35,550.00. In related news, Senior Officer Imad Mohsen bought 13,100 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average cost of C$13.33 per share, for a total transaction of C$174,623.00. Also, Senior Officer Eric Furlan purchased 3,000 shares of Parex Resources stock in a transaction dated Friday, September 13th. The stock was bought at an average price of C$11.85 per share, with a total value of C$35,550.00. Insiders bought a total of 54,804 shares of company stock worth $705,285 over the last three months. 1.64% of the stock is currently owned by company insiders.

Parex Resources Stock Performance

The firm has a market cap of C$1.21 billion, a price-to-earnings ratio of 2.92, a PEG ratio of 0.21 and a beta of 1.45. Parex Resources has a 1 year low of C$11.33 and a 1 year high of C$28.23. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.14 and a quick ratio of 1.45. The business’s 50 day simple moving average is C$15.83 and its 200-day simple moving average is C$20.12.

Parex Resources (TSE:PXTGet Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The company reported C$0.05 earnings per share (EPS) for the quarter. The business had revenue of C$499.23 million during the quarter. Parex Resources had a return on equity of 17.02% and a net margin of 26.15%. Research analysts anticipate that Parex Resources will post 1.7625369 EPS for the current year.

Parex Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 16th were paid a dividend of $0.385 per share. This represents a $1.54 annualized dividend and a dividend yield of ∞. The ex-dividend date of this dividend was Monday, September 9th. Parex Resources’s dividend payout ratio (DPR) is presently 37.65%.

About Parex Resources

(Get Free Report

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.

Further Reading

Analyst Recommendations for Parex Resources (TSE:PXT)

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