Parex Resources (TSE:PXT) Share Price Crosses Above 200-Day Moving Average - Should You Sell?

Key Points

• Parex Resources shares crossed above their 200‑day moving average, trading as high as C$27.38 and last at C$27.23 versus a 200‑day average of C$20.79 on volume of about 440,214 shares.
• Royal Bank of Canada raised its price target to C$32 while maintaining a "sector perform" rating; overall analyst coverage is mixed (two Buys, two Holds) with a consensus "Moderate Buy" and a C$23.30 target.
• Parex reported C$0.43 EPS for the quarter, has a P/E of 10.39, and recent dividends annualize to C$1.54 for a 5.7% yield with a payout ratio around 42%.

Parex Resources Inc. (TSE:PXT - Get Free Report) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$20.79 and traded as high as C$27.38. Parex Resources shares last traded at C$27.23, with a volume of 440,214 shares changing hands.

Analyst Ratings Changes

Separately, Royal Bank Of Canada lifted their price objective on shares of Parex Resources from C$28.00 to C$32.00 and gave the company a "sector perform" rating in a report on Wednesday, April 8th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of C$23.30.

Parex Resources Stock Up 1.9%

The business's fifty day moving average is C$24.74 and its two-hundred day moving average is C$20.79. The company has a market cap of C$2.61 billion, a P/E ratio of 10.39, a price-to-earnings-growth ratio of 0.21 and a beta of 0.02. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.45 and a current ratio of 1.11.

Parex Resources (TSE:PXT - Get Free Report) last announced its quarterly earnings data on Wednesday, March 4th. The company reported C$0.43 earnings per share for the quarter. Parex Resources had a net margin of 26.85% and a return on equity of 13.39%. The company had revenue of C$223.53 million during the quarter.

Parex Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 25th were issued a $0.385 dividend. The ex-dividend date was Wednesday, March 18th. This represents a $1.54 annualized dividend and a dividend yield of 5.7%. Parex Resources's payout ratio is currently 42.29%.

About Parex Resources

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. Parex depends on a team of geologists and geophysicists, in partnership with technologies such as 3D seismic surveying, to help exploration efforts.

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