Parex Resources Inc. (TSE:PXT) Receives C$20.21 Average PT from Brokerages

Shares of Parex Resources Inc. (TSE:PXT - Get Free Report) have earned a consensus recommendation of "Hold" from the five ratings firms that are currently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is C$20.21.

A number of research analysts have recently issued reports on PXT shares. Royal Bank of Canada raised 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. BMO Capital Markets lifted their target price on Parex Resources from C$14.00 to C$16.00 in a research note on Wednesday, January 15th.

Parex Resources Stock Up 2.1 %

TSE PXT traded up C$0.24 on Friday, hitting C$11.53. 51,499 shares of the stock traded hands, compared to its average volume of 650,910. The stock has a 50-day moving average of C$13.14 and a 200 day moving average of C$13.68. Parex Resources has a twelve month low of C$10.30 and a twelve month high of C$24.88. The company has a market capitalization of C$808.88 million, a P/E ratio of 3.15, a price-to-earnings-growth ratio of 0.21 and a beta of 1.43. The company has a current ratio of 1.18, a quick ratio of 1.45 and a debt-to-equity ratio of 1.81.

Parex Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 18th were given a $0.385 dividend. This represents a $1.54 annualized dividend and a yield of 13.36%. The ex-dividend date was Tuesday, March 11th. Parex Resources's dividend payout ratio (DPR) is presently 42.12%.

Insider Buying and Selling at Parex Resources

In other Parex Resources news, Senior Officer Imad Mohsen bought 23,250 shares of Parex Resources stock in a transaction that occurred on Friday, April 11th. The stock was purchased 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 company's stock in a transaction on 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 corporate 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.