Parex Resources Inc. (TSE:PXT - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$14.36 and traded as high as C$15.12. Parex Resources shares last traded at C$15.02, with a volume of 351,905 shares trading hands.
Wall Street Analysts Forecast Growth
Separately, BMO Capital Markets raised their price objective on Parex Resources from C$14.00 to C$16.00 in a research note on Wednesday, January 15th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of C$21.44.
View Our Latest Research Report on PXT
Parex Resources Stock Performance
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 fifty day moving average price of C$14.28 and a two-hundred day moving average price of C$14.33. The stock has a market capitalization of C$1.05 billion, a PE ratio of 4.08, a P/E/G ratio of 0.21 and a beta of 1.43.
Parex Resources Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 16th were issued a dividend of $0.385 per share. The ex-dividend date was Monday, December 9th. This represents a $1.54 annualized dividend and a yield of 10.33%. Parex Resources's payout ratio is currently 42.12%.
Insiders Place Their Bets
In related news, Senior Officer Cam Grainger purchased 13,500 shares of the business's stock in a transaction dated Thursday, December 12th. The shares were acquired at an average cost of C$13.45 per share, for a total transaction of C$181,575.00. 1.64% of the stock is currently owned by company insiders.
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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