Parex Resources Inc. (TSE:PXT) Given Average Rating of "Hold" by Brokerages

Key Points

• Parex Resources Inc. (TSE:PXT) has an average analyst rating of "Hold", with four analysts recommending hold and one recommending a buy, while the average 12-month price target is C$18.58.
• The company's most recent quarterly dividend of $0.385 per share represents an annualized dividend of $1.54 and a yield of 9.7%.
• Parex Resources shares recently opened at C$15.95, down 3.0%, with a market capitalization of C$1.12 billion and a PE ratio of 4.36.

Shares of Parex Resources Inc. (TSE:PXT - Get Free Report) have been assigned a consensus rating of "Hold" from the five analysts that are currently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is C$18.58.

A number of brokerages recently issued reports on PXT. Scotiabank upped their target price on Parex Resources from C$16.00 to C$17.00 and gave the company a "sector perform" rating in a research report on Thursday, July 31st. Royal Bank Of Canada raised their price objective on Parex Resources from C$16.00 to C$18.00 and gave the company a "sector perform" rating in a research report on Thursday, July 31st.

Parex Resources Trading Up 0.9%

Parex Resources stock traded up C$0.15 during mid-day trading on Tuesday, hitting C$16.47. The company's stock had a trading volume of 166,794 shares, compared to its average volume of 643,010. Parex Resources has a one year low of C$10.30 and a one year high of C$18.14. 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 company has a 50 day moving average of C$14.79 and a 200-day moving average of C$13.57. The stock has a market cap of C$1.16 billion, a PE ratio of 4.50, a P/E/G ratio of 0.21 and a beta of 1.43.

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 given a dividend of $0.385 per share. The ex-dividend date was Monday, June 9th. This represents a $1.54 annualized dividend and a yield of 9.4%. Parex Resources's payout ratio is presently 42.12%.

Insider Transactions at Parex Resources

In related news, Director Sigmund Cornelius acquired 5,000 shares of Parex Resources stock in a transaction on Friday, June 20th. The shares were acquired at an average cost of C$15.15 per share, with a total value of C$75,726.75. 1.64% of the stock is currently owned by insiders.

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.