Analysts Set Parex Resources Inc. (TSE:PXT) Target Price at C$20.21

Parex Resources Inc. (TSE:PXT - Get Free Report) has been given a consensus rating of "Hold" by the five brokerages that are currently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is C$20.21.

Several brokerages recently issued reports on PXT. BMO Capital Markets raised their target price on shares of Parex Resources from C$14.00 to C$16.00 in a report on Wednesday, January 15th. Royal Bank of Canada increased 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.

Insider Activity at Parex Resources

In other Parex Resources news, Senior Officer Imad Mohsen purchased 23,250 shares of Parex Resources stock in a transaction dated Friday, April 11th. The stock was acquired at an average price of C$10.83 per share, for a total transaction of C$251,797.50. Also, Director Sigmund Cornelius purchased 5,000 shares of Parex Resources stock in a transaction dated Friday, March 7th. The stock was acquired at an average price of C$12.61 per share, with a total value of C$63,063.00. 1.64% of the stock is currently owned by corporate insiders.

Parex Resources Stock Performance

PXT stock traded up C$0.31 on Wednesday, hitting C$12.29. The company had a trading volume of 74,453 shares, compared to its average volume of 616,276. Parex Resources has a 12-month low of C$10.30 and a 12-month high of C$24.33. The company has a current ratio of 1.18, a quick ratio of 1.45 and a debt-to-equity ratio of 1.81. The stock's 50-day simple moving average is C$12.14 and its 200 day simple moving average is C$13.50. The stock has a market cap of C$862.20 million, a price-to-earnings ratio of 3.36, a P/E/G ratio of 0.21 and a beta of 1.43.

Parex Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 18th were given a dividend of $0.385 per share. The ex-dividend date was Tuesday, March 11th. This represents a $1.54 annualized dividend and a dividend yield of 12.53%. Parex Resources's payout ratio is 42.12%.

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.