Parex Resources Inc. (TSE:PXT) Given Consensus Recommendation of “Hold” by Analysts

Parex Resources Inc. (TSE:PXT) has received an average rating of “Hold” from the six brokerages that are currently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is C$21.86.

A number of brokerages recently commented on PXT. BMO Capital Markets upped their target price on Parex Resources from C$13.00 to C$14.00 in a research report on Thursday, November 7th. Royal Bank of Canada dropped their price objective on shares of Parex Resources from C$17.00 to C$15.00 in a report on Tuesday, September 17th.

Parex Resources Stock Down 2.7 %

Parex Resources stock opened at C$15.19 on Thursday. Parex Resources has a fifty-two week low of C$11.33 and a fifty-two week high of C$25.77. The company has a market cap of C$1.54 billion, a PE ratio of 3.63, 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 business’s 50-day simple moving average is C$14.21 and its two-hundred day simple moving average is C$15.82.

Parex Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 16th were issued a dividend of $0.385 per share. This represents a $1.54 annualized dividend and a dividend yield of 10.14%. The ex-dividend date of this dividend was Monday, December 9th. Parex Resources’s dividend payout ratio (DPR) is 36.75%.

Insider Activity at Parex Resources

In other news, Senior Officer Cam Grainger acquired 13,500 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was acquired at an average price of C$13.45 per share, for a total transaction of C$181,575.00. Company insiders own 1.64% of the company’s stock.

Parex Resources Company Profile

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.