Parex Resources (TSE:PXT) Shares Cross Above 200 Day Moving Average – Here’s What Happened

Parex Resources Inc. (TSE:PXT) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$13.73 and traded as high as C$14.10. Parex Resources shares last traded at C$13.80, with a volume of 454,574 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PXT. BMO Capital Markets boosted their price target on shares of Parex Resources from C$14.00 to C$16.00 in a research note on Wednesday, January 15th. Royal Bank of Canada lifted their price objective on shares of Parex Resources from C$15.00 to C$16.00 and gave the stock a “sector perform” rating in a report on Thursday, March 6th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of C$20.21.

Parex Resources Stock Down 1.7 %

The company has a market capitalization of C$951.99 million, a P/E ratio of 3.71, a price-to-earnings-growth ratio of 0.21 and a beta of 1.43. The company has a current ratio of 1.18, a quick ratio of 1.45 and a debt-to-equity ratio of 1.81. The stock’s fifty day moving average is C$13.86 and its 200 day moving average is C$13.73.

Parex Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 18th were paid a dividend of $0.385 per share. This represents a $1.54 annualized dividend and a dividend yield of 11.35%. The ex-dividend date of this dividend was Tuesday, March 11th. Parex Resources’s dividend payout ratio (DPR) is 42.12%.

Insider Buying and Selling

In other Parex Resources news, Director Sigmund Cornelius bought 5,000 shares of the firm’s stock in a transaction that occurred on 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. 1.64% of the stock is owned by insiders.

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.