Parex Resources (TSE:PXT) Stock Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• Parex's stock crossed above its 200-day moving average, trading as high as C$28.37 and last at C$27.48 versus the 200-day average of C$20.21 on volume of 1,235,410 shares.
• Analysts are mixed: two Buy and two Hold ratings produce a consensus "Moderate Buy" and a consensus target of C$22.50, while RBC recently raised its target to C$28.00.
• Parex has a market cap of C$2.64 billion with a PE of 10.49; it reported C$0.43 EPS for the quarter and pays a quarterly dividend of C$0.385 (annualized C$1.54) for a yield of about 5.6%.

Parex Resources Inc. (TSE:PXT - Get Free Report)'s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$20.21 and traded as high as C$28.37. Parex Resources shares last traded at C$27.48, with a volume of 1,235,410 shares.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Jefferies Financial Group raised their target price on shares of Parex Resources from C$18.00 to C$20.50 in a report on Monday, December 15th. Roth Mkm set a C$24.00 target price on shares of Parex Resources and gave the stock a "buy" rating in a report on Friday, December 12th. Finally, Royal Bank Of Canada raised their target price on shares of Parex Resources from C$23.00 to C$28.00 and gave the stock a "sector perform" rating in a report on Friday, March 13th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Parex Resources has an average rating of "Moderate Buy" and a consensus target price of C$22.50.

Parex Resources Trading Up 0.7%

The company has a debt-to-equity ratio of 2.16, a current ratio of 1.11 and a quick ratio of 1.45. The company's fifty day moving average is C$23.46 and its 200-day moving average is C$20.21. The stock has a market cap of C$2.64 billion, a PE ratio of 10.49, a PEG ratio of 0.21 and a beta of 0.02.

Parex Resources (TSE:PXT - Get Free Report) last released 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 25th were issued a $0.385 dividend. The ex-dividend date of this dividend was Wednesday, March 18th. This represents a $1.54 dividend on an annualized basis and a yield of 5.6%. Parex Resources's payout ratio is presently 42.29%.

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. 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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