Parex Resources Inc. (TSE:PXT - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$13.45 and traded as high as C$14.28. Parex Resources shares last traded at C$14.27, with a volume of 1,068,122 shares changing hands.
Wall Street Analyst Weigh In
Separately, Royal Bank Of Canada increased their target price on Parex Resources from C$15.00 to C$16.00 and gave the company a "sector perform" rating in a research note on Thursday, March 6th. Four 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 company presently has a consensus rating of "Hold" and an average target price of C$20.21.
Check Out Our Latest Report on PXT
Parex Resources Stock Up 2.6%
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 firm's fifty day moving average price is C$13.31 and its 200-day moving average price is C$13.45. The company has a market cap of C$1.00 billion, a price-to-earnings ratio of 3.90, a price-to-earnings-growth ratio of 0.21 and a beta of 1.43.
Parex Resources Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 16th were paid a dividend of $0.385 per share. The ex-dividend date of this dividend was Monday, June 9th. This represents a $1.54 dividend on an annualized basis and a yield of 10.79%. Parex Resources's payout ratio is 42.12%.
Insider Activity at Parex Resources
In related news, Senior Officer Imad Mohsen purchased 23,250 shares of Parex Resources stock in a transaction dated Friday, April 11th. The stock was bought at an average price of C$10.83 per share, for a total transaction of C$251,797.50. Also, Director Sigmund Cornelius acquired 5,000 shares of the stock in a transaction dated Friday, June 20th. The shares were bought at an average cost 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.
About Parex Resources
(
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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