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

Shares of Parex Resources Inc. (TSE:PXT - Get Free Report) have earned an average recommendation of "Hold" from the six ratings firms that are currently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is C$21.86.

A number of research analysts have recently commented on the company. BMO Capital Markets upped their price target on Parex Resources from C$13.00 to C$14.00 in a research report on Thursday, November 7th. Royal Bank of Canada dropped their price objective on shares of Parex Resources from C$17.00 to C$15.00 in a report on Tuesday, September 17th.

Parex Resources Stock Performance

Shares of PXT stock traded up C$0.43 during trading hours on Thursday, hitting C$15.01. 587,202 shares of the company were exchanged, compared to its average volume of 720,794. Parex Resources has a 52-week low of C$11.33 and a 52-week high of C$25.77. 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 firm has a fifty day simple moving average of C$14.06 and a 200 day simple moving average of C$16.04. The stock has a market capitalization of C$1.52 billion, a price-to-earnings ratio of 3.58, a P/E/G ratio of 0.21 and a beta of 1.43.

Parex Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 16th were issued a $0.385 dividend. This represents a $1.54 dividend on an annualized basis and a dividend yield of 10.26%. The ex-dividend date of this dividend was Monday, December 9th. Parex Resources's payout ratio is 36.75%.

Insider Activity at Parex Resources

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

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.