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

Key Points

• Parex Resources Inc.'s stock price has recently crossed above its 200-day moving average of C$14.29, currently trading at C$18.92.
• The company declared a quarterly dividend of $0.385 per share, translating to an annualized dividend of $1.54 and a yield of 8.1%.
• Equities analysts have expressed a generally positive outlook, raising their price targets; BMO Capital Markets now has a target of C$20.00 with an "outperform" rating.

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$14.29 and traded as high as C$19.65. Parex Resources shares last traded at C$18.92, with a volume of 1,030,386 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Scotiabank lifted their price target on Parex Resources from C$16.00 to C$17.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 31st. Royal Bank Of Canada lifted their price target on Parex Resources from C$16.00 to C$18.00 and gave the company a "sector perform" rating in a report on Thursday, July 31st. Finally, BMO Capital Markets raised Parex Resources from a "hold" rating to an "outperform" rating and lifted their price target for the company from C$16.00 to C$20.00 in a report on Monday, September 15th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of C$18.33.

Parex Resources Stock Down 0.2%

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 market cap of C$1.86 billion, a price-to-earnings ratio of 14.44, a price-to-earnings-growth ratio of 0.21 and a beta of 0.47. The stock's 50 day moving average is C$16.57 and its 200 day moving average is C$14.29.

Parex Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 15th were paid a dividend of $0.385 per share. This represents a $1.54 dividend on an annualized basis and a dividend yield of 8.1%. The ex-dividend date was Monday, September 8th. Parex Resources's dividend payout ratio (DPR) is currently 84.24%.

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.

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