Parex Resources (TSE:PXT) Shares Cross Above Two Hundred Day Moving Average - Time to Sell?

Parex Resources Inc. (TSE:PXT - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$13.74 and traded as high as C$13.76. Parex Resources shares last traded at C$13.72, with a volume of 344,839 shares changing hands.

Analyst Upgrades and Downgrades

PXT has been the subject of a number of recent analyst reports. BMO Capital Markets lifted their price target on shares of Parex Resources from C$14.00 to C$16.00 in a research report on Wednesday, January 15th. Royal Bank of Canada increased their price objective on shares of 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. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Parex Resources currently has a consensus rating of "Hold" and an average price target of C$20.21.

Parex Resources Trading Down 3.8 %

The company has a debt-to-equity ratio of 1.81, a current ratio of 1.18 and a quick ratio of 1.45. The firm has a market cap of C$765.38 million, a PE ratio of 2.98, a price-to-earnings-growth ratio of 0.21 and a beta of 1.43. The company's 50 day moving average price is C$13.63 and its 200 day moving average price is C$13.74.

Parex Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 18th were paid a $0.385 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $1.54 annualized dividend and a dividend yield of 14.12%. Parex Resources's dividend payout ratio (DPR) is 42.12%.

Insider Transactions at Parex Resources

In related news, Director Sigmund Cornelius acquired 5,000 shares of the firm'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.