Parex Resources Inc. (TSE:PXT) Receives C$21.86 Consensus Price Target from Analysts

Parex Resources Inc. (TSE:PXT - Get Free Report) has been assigned an average rating of "Hold" from the six analysts that are currently covering the company, Marketbeat reports. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is C$21.86.

A number of analysts have recently weighed in on PXT shares. BMO Capital Markets boosted their target price on shares of Parex Resources from C$13.00 to C$14.00 in a report on Thursday, November 7th. 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 note on Friday, August 30th. Scotiabank dropped 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 research report on Friday, August 30th. Haywood Securities dropped their price objective on Parex Resources from C$33.00 to C$25.00 and set a "buy" rating for the company in a report on Friday, August 30th. Finally, Royal Bank of Canada reduced their target price on Parex Resources from C$17.00 to C$15.00 in a research note on Tuesday, September 17th.

Parex Resources Price Performance

TSE PXT traded down C$0.44 on Friday, reaching C$14.88. The company had a trading volume of 806,100 shares, compared to its average volume of 710,154. The stock has a market capitalization of C$1.51 billion, a PE ratio of 3.55, a price-to-earnings-growth ratio of 0.21 and a beta of 1.43. The firm's 50 day moving average price is C$13.75 and its 200 day moving average price is C$17.11. The company has a quick ratio of 1.45, a current ratio of 1.14 and a debt-to-equity ratio of 2.90. Parex Resources has a 12 month low of C$11.33 and a 12 month high of C$25.90.

Parex Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 16th will be issued a dividend of $0.385 per share. This represents a $1.54 dividend on an annualized basis and a dividend yield of 10.35%. The ex-dividend date of this dividend is Monday, December 9th. Parex Resources's dividend payout ratio (DPR) is 36.75%.

Insider Transactions at Parex Resources

In other Parex Resources news, Director Sigmund Cornelius purchased 10,000 shares of Parex Resources stock in a transaction that occurred on Wednesday, September 11th. The stock was bought at an average price of C$12.10 per share, with a total value of C$121,040.00. Also, Director Glenn Mcnamara acquired 7,200 shares of the business's stock in a transaction dated Monday, September 9th. The stock was acquired at an average price of C$13.08 per share, with a total value of C$94,140.00. Insiders have acquired 21,530 shares of company stock worth $266,629 over the last 90 days. 1.64% of the stock is currently owned by company insiders.

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.