Parex Resources (TSE:PXT) Reaches New 52-Week Low - Should You Sell?

Parex Resources Inc. (TSE:PXT - Get Free Report)'s share price reached a new 52-week low on Thursday . The company traded as low as C$10.30 and last traded at C$11.96, with a volume of 651522 shares trading hands. The stock had previously closed at C$10.58.

Wall Street Analyst Weigh In

PXT has been the topic of a number of recent analyst reports. Royal Bank of Canada increased their target price on shares of Parex Resources from C$15.00 to C$16.00 and gave the company a "sector perform" rating in a research report on Thursday, March 6th. BMO Capital Markets raised their price objective on Parex Resources from C$14.00 to C$16.00 in a report on Wednesday, January 15th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, Parex Resources presently has an average rating of "Hold" and an average price target of C$20.21.

Parex Resources Stock Performance

The stock has a fifty day moving average of C$13.24 and a 200-day moving average of C$13.69. The company has a quick ratio of 1.45, a current ratio of 1.18 and a debt-to-equity ratio of 1.81. The stock has a market cap of C$780.82 million, a PE ratio of 3.04, a price-to-earnings-growth ratio of 0.21 and a beta of 1.43.

Parex Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 18th were issued a $0.385 dividend. This represents a $1.54 dividend on an annualized basis and a dividend yield of 13.84%. The ex-dividend date of this dividend was Tuesday, March 11th. Parex Resources's payout ratio is currently 42.12%.

Insider Buying and Selling

In other Parex Resources news, Director Sigmund Cornelius bought 5,000 shares of the business's stock in a transaction dated Friday, March 7th. The stock was acquired at an average cost of C$12.61 per share, with a total value of C$63,063.00. Also, Senior Officer Imad Mohsen purchased 23,250 shares of Parex Resources stock in a transaction dated Friday, April 11th. The stock was acquired at an average cost of C$10.83 per share, with a total value of C$251,797.50. Corporate insiders own 1.64% of the company's stock.

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.