Parex Resources (TSE:PXT) Shares Pass Above 200-Day Moving Average - Time to Sell?

Parex Resources Inc. (TSE:PXT - Get Free Report) shares passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$14.21 and traded as high as C$14.35. Parex Resources shares last traded at C$14.10, with a volume of 822,890 shares.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets increased their target price on Parex Resources from C$14.00 to C$16.00 in a report on Wednesday, January 15th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of C$20.07.

Parex Resources Stock Performance

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 stock has a market cap of C$862.90 million, a P/E ratio of 3.36, a P/E/G ratio of 0.21 and a beta of 1.43. The business's 50-day moving average price is C$14.36 and its 200-day moving average price is C$14.09.

Parex Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 16th were issued a $0.385 dividend. This represents a $1.54 annualized dividend and a yield of 12.52%. The ex-dividend date was Monday, December 9th. Parex Resources's dividend payout ratio is 42.12%.

Insiders Place Their Bets

In related news, Senior Officer Cam Grainger acquired 13,500 shares of the business's stock in a transaction on Thursday, December 12th. The stock was acquired at an average cost of C$13.45 per share, with a total value of C$181,575.00. Company insiders own 1.64% of the company's stock.

Remove Ads

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.