Parex Resources Inc. (TSE:PXT) Receives C$21.44 Average Target Price from Analysts

Shares of Parex Resources Inc. (TSE:PXT) have earned a consensus rating of “Hold” from the six analysts that are currently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is C$21.44.

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

Parex Resources Trading Up 1.3 %

Shares of TSE:PXT opened at C$14.07 on Monday. Parex Resources has a 52-week low of C$11.33 and a 52-week high of C$24.88. The stock has a market capitalization 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. The stock’s 50-day simple moving average is C$14.43 and its two-hundred day simple moving average is C$15.09.

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

Parex Resources Announces Dividend

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

Insider Activity

In other news, Senior Officer Cam Grainger acquired 13,500 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were bought at an average cost of C$13.45 per share, for a total transaction of C$181,575.00. 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.