Insider Buying: Parex Resources Inc. (TSE:PXT) Director Buys 5,000 Shares of Stock

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

Parex Resources Trading Down 5.4%

TSE PXT traded down C$0.83 during trading hours on Monday, hitting C$14.44. 809,997 shares of the company's stock were exchanged, compared to its average volume of 658,698. The firm has a market cap of C$1.01 billion, a price-to-earnings ratio of 3.95, a PEG ratio of 0.21 and a beta of 1.43. The stock has a 50-day simple moving average of C$12.94 and a 200 day simple moving average of C$13.43. The company has a current ratio of 1.18, a quick ratio of 1.45 and a debt-to-equity ratio of 1.81. Parex Resources Inc. has a 1-year low of C$10.30 and a 1-year high of C$22.33.

Parex Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 16th were paid a $0.385 dividend. The ex-dividend date was Monday, June 9th. This represents a $1.54 annualized dividend and a dividend yield of 10.66%. Parex Resources's dividend payout ratio is currently 42.12%.

Analyst Ratings Changes

Separately, Royal Bank Of Canada lifted their target price on Parex Resources from C$15.00 to C$16.00 and gave the stock a "sector perform" rating in a report on Thursday, March 6th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Parex Resources currently has a consensus rating of "Hold" and an average price target of C$20.21.

About Parex Resources

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.