Brokerages Set Parex Resources Inc. (TSE:PXT) PT at C$20.21

Shares of Parex Resources Inc. (TSE:PXT - Get Free Report) have been assigned a consensus recommendation of "Hold" from the five brokerages that are currently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is C$20.21.

Separately, Royal Bank of Canada raised their price objective on shares of Parex Resources from C$15.00 to C$16.00 and gave the company a "sector perform" rating in a research report on Thursday, March 6th.

Insiders Place Their Bets

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

Parex Resources Stock Performance

Shares of Parex Resources stock traded up C$0.24 during trading hours on Friday, hitting C$14.01. 426,446 shares of the company were exchanged, compared to its average volume of 620,027. 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 business has a 50-day moving average of C$12.10 and a 200-day moving average of C$13.44. Parex Resources has a 1 year low of C$10.30 and a 1 year high of C$22.75. The stock has a market capitalization of C$982.86 million, a price-to-earnings ratio of 3.83, a P/E/G ratio of 0.21 and a beta of 1.43.

Parex Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 16th will be paid a $0.385 dividend. This represents a $1.54 annualized dividend and a dividend yield of 10.99%. The ex-dividend date of this dividend is Monday, June 9th. Parex Resources's dividend payout ratio (DPR) 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.