Parex Resources Inc. (TSE:PXT) Declares $0.39 Quarterly Dividend

Parex Resources Inc. (TSE:PXT - Get Free Report) declared a quarterly dividend on Tuesday, March 11th, TickerTech Dividends reports. Stockholders of record on Tuesday, March 18th will be given a dividend of 0.385 per share on Tuesday, March 18th. This represents a $1.54 annualized dividend and a dividend yield of 12.20%. The ex-dividend date of this dividend is Tuesday, March 11th.

Parex Resources Stock Down 1.1 %

PXT stock opened at C$12.62 on Tuesday. 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 firm has a 50-day moving average of C$14.32 and a two-hundred day moving average of C$13.99. Parex Resources has a 12 month low of C$11.33 and a 12 month high of C$24.88. The company has a market cap of C$885.35 million, a price-to-earnings ratio of 3.45, a PEG ratio of 0.21 and a beta of 1.43.

Analyst Upgrades and Downgrades

PXT has been the subject of several recent research reports. BMO Capital Markets increased their price target 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 target on 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 investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Parex Resources currently has a consensus rating of "Hold" and an average target price of C$20.21.

Insiders Place Their Bets

In related news, Senior Officer Cam Grainger acquired 13,500 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was purchased at an average price of C$13.45 per share, with a total value of C$181,575.00. Also, Director Sigmund Cornelius bought 5,000 shares of the company'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, with a total value of C$63,063.00. 1.64% of the stock is owned by insiders.

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.

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