Parex Resources Inc. (TSE:PXT - Get Free Report)'s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$13.73 and traded as high as C$14.10. Parex Resources shares last traded at C$13.80, with a volume of 454,574 shares.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on PXT shares. BMO Capital Markets increased their price objective on shares of Parex Resources from C$14.00 to C$16.00 in a research note on Wednesday, January 15th. Royal Bank of Canada upped their target price on shares of Parex Resources from C$15.00 to C$16.00 and gave the stock a "sector perform" rating in a report on Thursday, March 6th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of C$20.21.
Read Our Latest Report on Parex Resources
Parex Resources Stock Performance
The company has a market capitalization of C$946.38 million, a P/E ratio of 3.69, a P/E/G ratio of 0.21 and a beta of 1.43. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.45 and a current ratio of 1.18. The business's fifty day simple moving average is C$13.84 and its 200-day simple moving average is C$13.73.
Parex Resources Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 18th were issued a dividend of $0.385 per share. This represents a $1.54 annualized dividend and a yield of 11.42%. The ex-dividend date of this dividend was Tuesday, March 11th. Parex Resources's dividend payout ratio is presently 42.12%.
Insider Transactions at Parex Resources
In other Parex Resources news, Director Sigmund Cornelius purchased 5,000 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average price of C$12.61 per share, with a total value of C$63,063.00. Insiders own 1.64% of the company's stock.
About Parex Resources
(
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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.
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