Parex Resources Inc. (TSE:PXT - Get Free Report) Director Sigmund Cornelius purchased 5,000 shares of the stock in a transaction dated Friday, March 7th. The shares were acquired at an average price of C$12.61 per share, with a total value of C$63,063.00.
Parex Resources Stock Up 3.1 %
TSE PXT traded up C$0.38 during trading on Tuesday, reaching C$12.62. 478,324 shares of the company's stock were exchanged, compared to its average volume of 625,307. The company has a 50 day moving average price of C$14.30 and a two-hundred day moving average price of C$13.95. The stock has a market cap of C$885.35 million, a P/E ratio of 3.45, a price-to-earnings-growth ratio of 0.21 and a beta of 1.43. Parex Resources Inc. has a 1 year low of C$11.33 and a 1 year high of C$24.88. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.45 and a current ratio of 1.18.
Parex Resources Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Tuesday, March 18th will be paid a dividend of $0.385 per share. This represents a $1.54 annualized dividend and a yield of 12.20%. The ex-dividend date of this dividend is Tuesday, March 11th. Parex Resources's payout ratio is 42.12%.
Analyst Ratings Changes
A number of equities analysts recently weighed in on the stock. 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. BMO Capital Markets raised their price target on Parex Resources from C$14.00 to C$16.00 in a research report on Wednesday, January 15th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of C$20.21.
Read Our Latest Stock Report on Parex Resources
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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