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

Shares of Parex Resources Inc. (TSE:PXT - Get Free Report) have been assigned a consensus rating of "Hold" from the six research firms that are presently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is C$21.86.

PXT has been the subject of a number of research reports. Jefferies Financial Group dropped their price objective on Parex Resources from C$23.80 to C$19.50 in a research note on Thursday, August 29th. Eight Capital lowered Parex Resources from a "buy" rating to a "neutral" rating and decreased their target price for the company from C$32.50 to C$16.00 in a report on Friday, August 30th. Scotiabank decreased their target price on Parex Resources from C$23.00 to C$19.00 and set a "sector perform" rating for the company in a report on Friday, August 30th. BMO Capital Markets lifted their target price on Parex Resources from C$13.00 to C$14.00 in a report on Thursday, November 7th. Finally, Cormark decreased their target price on Parex Resources from C$33.00 to C$30.00 in a report on Thursday, August 1st.

Insider Activity at Parex Resources

In other Parex Resources news, Senior Officer Eric Furlan purchased 3,000 shares of Parex Resources stock in a transaction on Friday, September 13th. The shares were bought at an average price of C$11.85 per share, with a total value of C$35,550.00. In related news, Director Sigmund Cornelius purchased 10,000 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was purchased at an average cost of C$12.10 per share, for a total transaction of C$121,040.00. Also, Senior Officer Eric Furlan purchased 3,000 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was bought at an average price of C$11.85 per share, with a total value of C$35,550.00. In the last 90 days, insiders have purchased 54,804 shares of company stock valued at $705,285. 1.64% of the stock is owned by corporate insiders.

Parex Resources Trading Up 0.2 %

PXT stock traded up C$0.03 during midday trading on Wednesday, hitting C$14.13. 478,942 shares of the company's stock were exchanged, compared to its average volume of 707,258. The business has a 50-day simple moving average of C$12.88 and a two-hundred day simple moving average of C$18.21. The company has a current ratio of 1.14, a quick ratio of 1.45 and a debt-to-equity ratio of 2.90. The stock has a market capitalization of C$1.43 billion, a PE ratio of 3.37, a P/E/G ratio of 0.21 and a beta of 1.43. Parex Resources has a 1-year low of C$11.33 and a 1-year high of C$28.23.

Parex Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a $0.385 dividend. This represents a $1.54 dividend on an annualized basis and a yield of 10.90%. The ex-dividend date of this dividend is Monday, December 9th. Parex Resources's payout ratio is currently 36.75%.

Parex Resources Company Profile

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.