Parex Resources Inc. (TSE:PXT) Receives Average Rating of "Hold" from Analysts

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

Several research analysts have recently weighed in on the company. BMO Capital Markets increased their price target on Parex Resources from C$14.00 to C$16.00 in a research note on Wednesday, January 15th. Royal Bank of Canada increased their target price 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.

Parex Resources Stock Performance

Shares of TSE:PXT traded up C$0.61 during mid-day trading on Wednesday, reaching C$11.98. The company had a trading volume of 911,654 shares, compared to its average volume of 622,964. Parex Resources has a one year low of C$10.30 and a one year high of C$24.55. 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 company's 50-day moving average price is C$12.14 and its 200-day moving average price is C$13.49. The firm has a market cap of C$840.45 million, a price-to-earnings ratio of 3.28, a PEG ratio of 0.21 and a beta of 1.43.

Parex Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 18th were issued a $0.385 dividend. This represents a $1.54 dividend on an annualized basis and a dividend yield of 12.85%. The ex-dividend date was Tuesday, March 11th. Parex Resources's payout ratio is 42.12%.

Insider Activity

In related news, Senior Officer Imad Mohsen acquired 23,250 shares of the firm's stock in a transaction that occurred on Friday, April 11th. The shares were bought at an average cost of C$10.83 per share, for a total transaction of C$251,797.50. Also, Director Sigmund Cornelius purchased 5,000 shares of the firm's stock in a transaction dated Friday, March 7th. The stock was bought at an average cost of C$12.61 per share, for a total transaction of C$63,063.00. 1.64% of the stock is owned by company 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.