Parex Resources Inc. (TSE:PXT) Director Sigmund Cornelius Acquires 5,000 Shares

Parex Resources Inc. (TSE:PXT) Director Sigmund Cornelius acquired 5,000 shares of the firm’s 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.

Parex Resources Stock Up 1.0 %

TSE PXT opened at C$12.76 on Friday. 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 stock has a market capitalization of C$895.17 million, a PE ratio of 3.49, a PEG ratio of 0.21 and a beta of 1.43. Parex Resources Inc. has a 1 year low of C$11.33 and a 1 year high of C$24.88. The business’s 50-day moving average is C$14.32 and its 200 day moving average is C$14.04.

Parex Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 16th were paid a $0.385 dividend. The ex-dividend date was Monday, December 9th. This represents a $1.54 annualized dividend and a dividend yield of 12.07%. Parex Resources’s payout ratio is presently 42.12%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. BMO Capital Markets lifted their price objective on Parex Resources from C$14.00 to C$16.00 in a report on Wednesday, January 15th. Royal Bank of Canada lifted their price objective on Parex Resources from C$15.00 to C$16.00 and gave the stock a “sector perform” rating in a report on Thursday. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Parex Resources presently has an average rating of “Hold” and an average target price of C$20.21.

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.