Parex Resources (TSE:PXT) Stock Price Up 4.8%

Parex Resources Inc. (TSE:PXT - Get Free Report)'s stock price shot up 4.8% during trading on Thursday . The stock traded as high as C$24.82 and last traded at C$24.81. 97,399 shares were traded during trading, a decline of 82% from the average session volume of 532,019 shares. The stock had previously closed at C$23.67.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PXT. TD Securities decreased their price target on Parex Resources from C$28.70 to C$27.20 in a research note on Tuesday, January 16th. Scotiabank cut their price objective on Parex Resources from C$28.00 to C$27.00 and set a "sector perform" rating for the company in a research report on Friday, March 1st. Stifel Nicolaus cut their price objective on Parex Resources from C$32.75 to C$31.00 and set a "buy" rating for the company in a research report on Monday, March 4th. Finally, Royal Bank of Canada cut their price objective on Parex Resources from C$32.00 to C$28.00 and set an "outperform" rating for the company in a research report on Friday, March 1st.

Parex Resources Price Performance

The company has a fifty day simple moving average of C$22.46 and a two-hundred day simple moving average of C$23.80. The company has a debt-to-equity ratio of 4.93, a quick ratio of 1.45 and a current ratio of 1.31. The company has a market capitalization of C$2.54 billion, a price-to-earnings ratio of 4.16, a P/E/G ratio of 0.21 and a beta of 1.59.

Parex Resources (TSE:PXT - Get Free Report) last issued its quarterly earnings results on Thursday, February 29th. The company reported C$1.74 earnings per share for the quarter, beating the consensus estimate of C$1.42 by C$0.32. The company had revenue of C$508.73 million during the quarter. Parex Resources had a return on equity of 25.03% and a net margin of 39.26%. As a group, research analysts anticipate that Parex Resources Inc. will post 5.8679707 earnings per share for the current year.

Parex Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a $0.375 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.50 annualized dividend and a yield of 6.10%. Parex Resources's dividend payout ratio (DPR) is presently 25.38%.

Insider Buying and Selling at Parex Resources

In other news, Senior Officer Imad Mohsen acquired 9,500 shares of the company's stock in a transaction dated Monday, March 18th. The stock was acquired at an average cost of C$21.10 per share, for a total transaction of C$200,450.00. 1.54% of the stock is currently owned by insiders.

Parex Resources Company Profile

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.