Parex Resources Inc. (TSE:PXT) Director Sigmund Cornelius Buys 5,000 Shares

Parex Resources Inc. (TSE:PXT - Get Free Report) Director Sigmund Cornelius acquired 5,000 shares of Parex Resources stock in a transaction that occurred on Friday, June 20th. The shares were purchased at an average cost of C$15.15 per share, with a total value of C$75,726.75.

Parex Resources Stock Up 0.1%

PXT traded up C$0.02 during trading on Friday, reaching C$15.27. 1,107,096 shares of the stock traded hands, compared to its average volume of 657,427. The stock has a market cap of C$1.07 billion, a price-to-earnings ratio of 4.18, a price-to-earnings-growth ratio of 0.21 and a beta of 1.43. Parex Resources Inc. has a fifty-two week low of C$10.30 and a fifty-two week high of C$22.33. 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 stock's 50-day simple moving average is C$12.79 and its two-hundred day simple moving average is C$13.45.

Parex Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 16th were issued a dividend of $0.385 per share. The ex-dividend date of this dividend was Monday, June 9th. This represents a $1.54 annualized dividend and a yield of 10.09%. Parex Resources's dividend payout ratio (DPR) is currently 42.12%.

Wall Street Analyst Weigh In

Separately, Royal Bank Of Canada lifted their price objective on Parex Resources from C$15.00 to C$16.00 and gave the company 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 stock. According to MarketBeat, Parex Resources currently has an average rating of "Hold" and a consensus price target of C$20.21.

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.

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