Parex Resources Inc. Announces Quarterly Dividend of $0.39 (TSE:PXT)

Parex Resources Inc. (TSE:PXT - Get Free Report) announced a quarterly dividend on Monday, June 9th, TickerTech Dividends reports. Shareholders of record on Monday, June 16th will be paid a dividend of 0.385 per share on Monday, June 16th. This represents a $1.54 annualized dividend and a dividend yield of 10.38%. The ex-dividend date of this dividend is Monday, June 9th.

Parex Resources Price Performance

Parex Resources stock traded up C$0.19 during mid-day trading on Friday, hitting C$14.84. 1,558,739 shares of the company were exchanged, compared to its average volume of 638,406. 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 company has a market capitalization of C$1.04 billion, a P/E ratio of 4.06, a PEG ratio of 0.21 and a beta of 1.43. The business's 50 day simple moving average is C$12.18 and its two-hundred day simple moving average is C$13.45. Parex Resources has a 12-month low of C$10.30 and a 12-month high of C$22.75.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada upped their price target on shares of Parex Resources from C$15.00 to C$16.00 and gave the stock a "sector perform" rating in a research report on Thursday, March 6th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of C$20.21.

Insider Activity

In related news, Senior Officer Imad Mohsen bought 23,250 shares of the company's stock in a transaction dated Friday, April 11th. The stock was bought at an average price of C$10.83 per share, with a total value of C$251,797.50. Insiders own 1.64% of the company's stock.

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.