Parex Resources - PXT Stock Forecast, Price & News

Parex Resources Inc. engages in the exploration, development, production of oil and natural gas in Colombia. The company holds interests in onshore exploration and production blocks totaling approximately 6,521,632 gross acres. As of December 31, 2021, it had proved plus probable reserves of 198,825 million barrels of oil equivalent. The company was incorporated in 2009 and is headquartered in Calgary, Canada.

Parex Resources Price Performance

TSE:PXT traded down C$0.29 during trading hours on Monday, reaching C$21.58. 414,429 shares of the company's stock were exchanged, compared to its average volume of 594,979. The stock has a market cap of C$2.42 billion and a PE ratio of 4.81. Parex Resources has a one year low of C$17.28 and a one year high of C$30.44. The firm has a fifty day moving average of C$23.60 and a 200-day moving average of C$25.40. The company has a current ratio of 1.84, a quick ratio of 1.77 and a debt-to-equity ratio of 0.48.

Parex Resources (TSE:PXT - Get Rating) last released its quarterly earnings results on Wednesday, August 3rd. The company reported C$1.58 EPS for the quarter, missing analysts' consensus estimates of C$1.68 by C($0.10). The company had revenue of C$572.13 million during the quarter. On average, equities research analysts predict that Parex Resources will post 7.9499996 earnings per share for the current fiscal year.

Parex Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Thursday, June 30th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, June 14th. This is a positive change from Parex Resources's previous quarterly dividend of $0.14. This represents a $1.00 dividend on an annualized basis and a yield of 4.63%. Parex Resources's dividend payout ratio is 11.18%.

Analyst Ratings Changes

Several brokerages have recently weighed in on PXT. Scotiabank decreased their target price on shares of Parex Resources from C$38.00 to C$34.00 in a research report on Thursday, July 14th. Haywood Securities decreased their target price on shares of Parex Resources from C$45.00 to C$39.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 27th. Cormark lifted their target price on shares of Parex Resources from C$36.00 to C$40.00 and gave the company an "outperform" rating in a research report on Monday, April 18th. Finally, Stifel Nicolaus decreased their target price on shares of Parex Resources from C$39.00 to C$37.00 in a research report on Friday. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of C$36.14.

Insider Buying and Selling

In other Parex Resources news, Senior Officer Eric Furlan sold 7,500 shares of the stock in a transaction on Monday, May 30th. The stock was sold at an average price of C$27.60, for a total value of C$207,000.00. Following the transaction, the insider now directly owns 162,879 shares in the company, valued at approximately C$4,495,460.40.