Parex Resources (TSE:PXT) Stock Crosses Above 200-Day Moving Average of $23.86

Parex Resources Inc. (TSE:PXT - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$23.86 and traded as high as C$23.88. Parex Resources shares last traded at C$23.61, with a volume of 399,570 shares traded.

Analysts Set New Price Targets

PXT has been the topic of several research analyst reports. Scotiabank dropped their target price on shares of Parex Resources from C$28.00 to C$27.00 and set a "sector perform" rating on the stock in a research report on Friday, March 1st. Stifel Nicolaus dropped their price objective on shares of Parex Resources from C$32.75 to C$31.00 and set a "buy" rating on the stock in a report on Monday, March 4th. TD Securities dropped their price objective on shares of Parex Resources from C$28.70 to C$27.20 in a report on Tuesday, January 16th. Finally, Royal Bank of Canada dropped their price objective on shares of Parex Resources from C$32.00 to C$28.00 and set an "outperform" rating on the stock in a report on Friday, March 1st.

Parex Resources Price Performance

The stock's fifty day moving average is C$21.75 and its 200-day moving average is C$23.85. The stock has a market capitalization of C$2.45 billion, a PE ratio of 4.04, a P/E/G ratio of 0.21 and a beta of 1.62. The company has a debt-to-equity ratio of 4.93, a current ratio of 1.31 and a quick ratio of 1.45.

Parex Resources (TSE:PXT - Get Free Report) last announced its quarterly earnings results on Thursday, February 29th. The company reported C$1.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of C$1.42 by C$0.32. Parex Resources had a net margin of 39.26% and a return on equity of 25.03%. The firm had revenue of C$508.73 million for the quarter. As a group, equities analysts predict that Parex Resources Inc. will post 5.6354916 earnings per share for the current fiscal year.

Parex Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 6.32%. The ex-dividend date was Thursday, March 14th. Parex Resources's dividend payout ratio is presently 25.55%.

Insiders Place Their Bets

In related news, Senior Officer Imad Mohsen acquired 9,500 shares of Parex Resources stock in a transaction on Monday, March 18th. The stock was bought at an average cost of C$21.10 per share, for a total transaction of C$200,450.00. 1.61% of the stock is currently owned by company insiders.

About Parex Resources

Parex Resources Inc engages in the exploration, development, production, and marketing of oil and natural gas in Colombia. The company's principal land holdings and exploration blocks are in Colombia Llanos and Magdalena Basin. It has 55% working interest in Block LLA-34; 100% working interest in Cabrestero Block; and 50% working interest in Capachos Block and Block VIM-1.