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

Parex Resources Inc. (TSE:PXT - Get Free Report) has been given a consensus rating of "Hold" by the five analysts that are presently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is C$20.21.

A number of research firms have recently commented on PXT. BMO Capital Markets lifted their price objective on Parex Resources from C$14.00 to C$16.00 in a research note 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 research report on Thursday, March 6th.

Insiders Place Their Bets

In other news, Director Sigmund Cornelius purchased 5,000 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average cost of C$12.61 per share, with a total value of C$63,063.00. Corporate insiders own 1.64% of the company's stock.

Parex Resources Stock Performance

TSE:PXT traded down C$0.17 during midday trading on Tuesday, reaching C$13.49. The stock had a trading volume of 3,408,619 shares, compared to its average volume of 662,196. The stock has a market capitalization of C$946.38 million, a P/E ratio of 3.69, a PEG ratio of 0.21 and a beta of 1.43. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.18 and a quick ratio of 1.45. Parex Resources has a 1-year low of C$11.33 and a 1-year high of C$24.88. The firm's fifty day simple moving average is C$14.00 and its 200-day simple moving average is C$13.77.

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Parex Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 18th were given a dividend of $0.385 per share. The ex-dividend date was Tuesday, March 11th. This represents a $1.54 annualized dividend and a dividend yield of 11.42%. Parex Resources's dividend payout ratio (DPR) is currently 42.12%.

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.