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

Shares of Parex Resources Inc. (TSE:PXT - Get Free Report) have been given an average recommendation of "Hold" by the five research firms that are presently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is C$20.21.

Separately, Scotiabank upped their price target on Parex Resources from C$14.00 to C$16.00 in a research note on Friday.

Insider Buying and Selling at Parex Resources

In related news, Director Sigmund Cornelius purchased 5,000 shares of the business's stock in a transaction on Friday, June 20th. The stock was acquired at an average price 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 Trading Up 1.6%

PXT traded up C$0.23 during midday trading on Friday, hitting C$14.57. 298,310 shares of the company were exchanged, compared to its average volume of 650,077. The firm has a market capitalization of C$1.02 billion, a P/E ratio of 3.98, a P/E/G ratio of 0.21 and a beta of 1.43. The firm's 50 day moving average price is C$13.65 and its 200-day moving average price is C$13.48. The company has a quick ratio of 1.45, a current ratio of 1.18 and a debt-to-equity ratio of 1.81. Parex Resources has a 1-year low of C$10.30 and a 1-year high of C$21.79.

Parex Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 16th were paid a $0.385 dividend. This represents a $1.54 annualized dividend and a yield of 10.57%. The ex-dividend date of this dividend was Monday, June 9th. Parex Resources's dividend payout ratio is presently 42.12%.

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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