Parex Resources Inc. (TSE:PXT) Given Average Rating of "Hold" by Brokerages

Shares of Parex Resources Inc. (TSE:PXT - Get Free Report) have been given an average rating of "Hold" by the six research firms that are currently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is C$21.44.

Separately, BMO Capital Markets raised their price objective on Parex Resources from C$14.00 to C$16.00 in a research note on Wednesday, January 15th.

Insider Activity at Parex Resources

In other Parex Resources news, Senior Officer Cam Grainger bought 13,500 shares of the company's stock in a transaction that occurred on Thursday, December 12th. The shares were purchased at an average cost of C$13.45 per share, for a total transaction of C$181,575.00. 1.64% of the stock is owned by company insiders.

Parex Resources Stock Performance

PXT stock traded down C$0.61 during trading on Friday, reaching C$14.91. The stock had a trading volume of 1,018,201 shares, compared to its average volume of 481,583. The stock's 50 day moving average is C$14.28 and its two-hundred day moving average is C$14.33. The company has a current ratio of 1.18, a quick ratio of 1.45 and a debt-to-equity ratio of 1.81. Parex Resources has a 52 week low of C$11.33 and a 52 week high of C$24.88. The firm has a market cap of C$1.05 billion, a PE ratio of 4.08, a PEG ratio of 0.21 and a beta of 1.43.

Parex Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 16th were issued a dividend of $0.385 per share. This represents a $1.54 dividend on an annualized basis and a yield of 10.33%. The ex-dividend date was Monday, December 9th. Parex Resources's payout ratio is currently 42.12%.

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.