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

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.

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

Several equities research analysts recently weighed in on PXT shares. Scotiabank boosted their price target on shares of Parex Resources from C$16.00 to C$17.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 31st. Royal Bank Of Canada boosted their price objective on shares of 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 Down 3.0%

Shares of PXT opened at C$15.95 on Tuesday. The company's fifty day moving average is C$14.63 and its 200 day moving average is C$13.52. Parex Resources has a fifty-two week low of C$10.30 and a fifty-two week high of C$18.14. The stock has a market capitalization of C$1.12 billion, a PE ratio of 4.36, a P/E/G ratio of 0.21 and a beta of 1.43. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 16th were paid a dividend of $0.385 per share. This represents a $1.54 dividend on an annualized basis and a dividend yield of 9.7%. The ex-dividend date of this dividend was Monday, June 9th. Parex Resources's payout ratio is currently 42.12%.

Insider Activity

In related news, Director Sigmund Cornelius bought 5,000 shares of the stock in a transaction dated Friday, June 20th. The stock was purchased at an average cost of C$15.15 per share, with a total value of C$75,726.75. Corporate insiders own 1.64% of the company's stock.

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.

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