BMO Capital Markets Analysts Give Parex Resources (TSE:PXT) a C$13.00 Price Target

Parex Resources (TSE:PXT) has been assigned a C$13.00 price target by equities researchers at BMO Capital Markets in a report released on Thursday, BayStreet.CA reports. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ price target would indicate a potential upside of 8.24% from the company’s previous close.

PXT has been the subject of several other research reports. Jefferies Financial Group decreased their price objective on shares of Parex Resources from C$23.80 to C$19.50 in a research note on Thursday, August 29th. Cormark reduced their target price on shares of Parex Resources from C$33.00 to C$30.00 in a research report on Thursday, August 1st. Eight Capital downgraded shares of Parex Resources from a “buy” rating to a “neutral” rating and reduced their target price for the company from C$32.50 to C$16.00 in a research report on Friday, August 30th. Scotiabank reduced their target price on shares of Parex Resources from C$23.00 to C$19.00 and set a “sector perform” rating for the company in a research report on Friday, August 30th. Finally, Haywood Securities reduced their target price on shares of Parex Resources from C$33.00 to C$25.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Parex Resources currently has a consensus rating of “Hold” and a consensus price target of C$22.97.

Parex Resources Trading Down 0.9 %

PXT opened at C$12.01 on Thursday. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.14 and a quick ratio of 1.45. Parex Resources has a fifty-two week low of C$11.33 and a fifty-two week high of C$28.23. The firm has a market capitalization of C$1.22 billion, a PE ratio of 2.85, a P/E/G ratio of 0.21 and a beta of 1.45. The company’s 50-day moving average is C$16.79 and its 200 day moving average is C$20.42.

Parex Resources (TSE:PXT) last posted its earnings results on Wednesday, July 31st. The company reported C$0.05 earnings per share for the quarter. Parex Resources had a net margin of 26.15% and a return on equity of 17.02%. The company had revenue of C$499.23 million for the quarter. As a group, research analysts predict that Parex Resources will post 2.6732456 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Parex Resources news, Senior Officer Wayne Kim Foo acquired 4,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was bought at an average cost of C$13.05 per share, with a total value of C$52,200.00. In other news, Senior Officer Wayne Kim Foo purchased 4,000 shares of the business’s stock in a transaction on Friday, August 30th. The stock was purchased at an average cost of C$13.05 per share, with a total value of C$52,200.00. Also, Senior Officer Eric Furlan purchased 3,000 shares of the business’s stock in a transaction on Friday, September 13th. The stock was purchased at an average cost of C$11.85 per share, with a total value of C$35,550.00. In the last ninety days, insiders acquired 54,804 shares of company stock valued at $705,285. Company insiders own 1.64% of the company’s stock.

About Parex Resources

Parex Resources Inc engages in the exploration, development, production, and marketing of oil and natural gas in Colombia. The company's principal land holdings and exploration blocks are in Colombia Llanos and Magdalena Basin. It has 55% working interest in Block LLA-34; 100% working interest in Cabrestero Block; and 50% working interest in Capachos Block and Block VIM-1.