Parex Resources (TSE:PXT) Stock Price Passes Above 200-Day Moving Average - What's Next?

Shares of Parex Resources Inc. (TSE:PXT - Get Free Report) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred 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.

Analyst Ratings Changes

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

Parex Resources Price Performance

The company has a quick ratio of 1.45, a current ratio of 1.18 and a debt-to-equity ratio of 1.81. The firm has a fifty day moving average price of C$14.06 and a two-hundred day moving average price of C$13.51. The stock has a market capitalization of C$1.03 billion, a P/E ratio of 4.02, a P/E/G ratio of 0.21 and a beta of 1.43.

Parex Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 16th were issued a dividend of $0.385 per share. The ex-dividend date of this dividend was Monday, June 9th. This represents a $1.54 annualized dividend and a dividend yield of 10.48%. Parex Resources's payout ratio is presently 42.12%.

Insider Buying and Selling at Parex Resources

In other Parex Resources news, Director Sigmund Cornelius acquired 5,000 shares of Parex Resources stock in a transaction that occurred on Friday, June 20th. The stock was bought at an average cost of C$15.15 per share, for a total transaction of C$75,726.75. 1.64% of the stock is owned by 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.