Parex Resources Inc. (TSE:PXT) Receives C$20.21 Average Target Price from Analysts

Parex Resources Inc. (TSE:PXT) has earned a consensus rating of “Hold” from the five analysts that are covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is C$20.21.

A number of research analysts have commented on the stock. Royal Bank of Canada increased their price objective on shares of Parex Resources from C$15.00 to C$16.00 and gave the company a “sector perform” rating in a research note on Thursday, March 6th. BMO Capital Markets increased their price target on shares of Parex Resources from C$14.00 to C$16.00 in a research report on Wednesday, January 15th.

Parex Resources Stock Up 2.5 %

Shares of Parex Resources stock opened at C$13.83 on Tuesday. Parex Resources has a 1-year low of C$11.33 and a 1-year high of C$24.88. The company has a market capitalization of C$970.23 million, a PE ratio of 3.78, a P/E/G ratio of 0.21 and a beta of 1.43. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.18 and a quick ratio of 1.45. The business has a 50-day moving average of C$13.93 and a 200-day moving average of C$13.73.

Parex Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 18th were issued a $0.385 dividend. This represents a $1.54 annualized dividend and a yield of 11.14%. The ex-dividend date of this dividend was Tuesday, March 11th. Parex Resources’s payout ratio is currently 42.12%.

Insider Transactions at Parex Resources

In other Parex Resources news, Director Sigmund Cornelius acquired 5,000 shares of Parex Resources stock in a transaction dated Friday, March 7th. The stock was bought at an average price of C$12.61 per share, for a total transaction of C$63,063.00. Company 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.