Parex Resources (TSE:PXT) Reaches New 12-Month Low - Time to Sell?

Parex Resources Inc. (TSE:PXT - Get Free Report) shares hit a new 52-week low during trading on Friday . The stock traded as low as C$11.32 and last traded at C$11.33, with a volume of 487491 shares. The stock had previously closed at C$12.85.

Analysts Set New Price Targets

PXT has been the topic of several research reports. Royal Bank of Canada upped their price target on 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 target on shares of Parex Resources from C$14.00 to C$16.00 in a research report on Wednesday, January 15th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of C$20.21.

Parex Resources Stock Performance

The company's 50-day moving average is C$13.41 and its two-hundred day moving average is C$13.72. The company has a current ratio of 1.18, a quick ratio of 1.45 and a debt-to-equity ratio of 1.81. The stock has a market capitalization of C$839.04 million, a P/E ratio of 3.27, a P/E/G ratio of 0.21 and a beta of 1.43.

Parex Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 18th were issued a dividend of $0.385 per share. This represents a $1.54 dividend on an annualized basis and a dividend yield of 12.88%. The ex-dividend date of this dividend was Tuesday, March 11th. Parex Resources's dividend payout ratio (DPR) is 42.12%.

Insider Buying and Selling

In other news, Director Sigmund Cornelius acquired 5,000 shares of the business's stock in a transaction dated Friday, March 7th. The stock was acquired at an average price of C$12.61 per share, for a total transaction of C$63,063.00. 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.