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Parex Resources (TSE:PXT) Stock Price Crosses Above Two Hundred Day Moving Average - Should You Sell?

Parex Resources logo with Energy background

Parex Resources Inc. (TSE:PXT - Get Free Report) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$13.52 and traded as high as C$14.73. Parex Resources shares last traded at C$14.69, with a volume of 495,414 shares.

Wall Street Analysts Forecast Growth

Separately, Scotiabank lifted their target price on shares of Parex Resources from C$14.00 to C$16.00 in a report on Friday, July 11th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of C$19.79.

Read Our Latest Research Report on Parex Resources

Parex Resources Price Performance

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 has a market capitalization of C$1.04 billion, a PE ratio of 4.04, a price-to-earnings-growth ratio of 0.21 and a beta of 1.43. The stock's 50-day moving average is C$14.15 and its two-hundred day moving average is C$13.51.

Parex Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 16th were issued a $0.385 dividend. This represents a $1.54 annualized dividend and a yield of 10.43%. The ex-dividend date was Monday, June 9th. Parex Resources's payout ratio is 42.12%.

Insider Buying and Selling at Parex Resources

In related news, Director Sigmund Cornelius bought 5,000 shares of the business's stock in a transaction dated Friday, June 20th. The stock was acquired at an average price of C$15.15 per share, with a total value of C$75,726.75. Company insiders own 1.64% of the company's stock.

Parex Resources Company Profile

(Get Free Report)

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.

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