Parex Resources (PXT) Stock Forecast, Price & News

3 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Parex Resources in the last year. There are currently 3 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "buy" PXT shares.
View PXT analyst ratings or view top-rated stocks.

3 Wall Street analysts have issued 12 month target prices for Parex Resources' shares. Their PXT share price forecasts range from C$26.00 to C$36.00. On average, they expect the company's stock price to reach C$30.67 in the next year. This suggests a possible upside of 12.4% from the stock's current price.
View analysts price targets for PXT or view top-rated stocks among Wall Street analysts.

Parex Resources' stock was trading at C$20.15 at the start of the year. Since then, PXT shares have increased by 35.4% and is now trading at C$27.29.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, August 2nd 2023.
View our PXT earnings forecast.

Parex Resources Inc. (TSE:PXT) issued its quarterly earnings results on Wednesday, March, 8th. The company reported $3.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $1.82. The firm earned $510.97 million during the quarter. Parex Resources had a net margin of 45.00% and a trailing twelve-month return on equity of 35.19%.

Parex Resources declared a quarterly dividend on Wednesday, May 10th. Shareholders of record on Thursday, June 15th will be given a dividend of 0.375 per share on Friday, June 30th. This represents a $1.50 annualized dividend and a dividend yield of 5.50%. The ex-dividend date of this dividend is Wednesday, June 14th.
Read our dividend analysis for PXT.

Parex Resources (TSE:PXT) pays an annual dividend of C$1.50 per share and currently has a dividend yield of 5.38%. PXT has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The dividend payout ratio is 22.19%. This payout ratio is at a healthy, sustainable level, below 75%.
Read our dividend analysis for PXT.

Based on aggregate information from My MarketBeat watchlists, some companies that other Parex Resources investors own include Air Canada (AC), Whitecap Resources (WCP), Bank of America (BAC), Cenovus Energy (CVE), Vermilion Energy (VET), Canadian Natural Resources (CNQ), Enbridge (ENB), Gran Tierra Energy (GTE), Intelsat (I) and Suncor Energy (SU).

Parex Resources trades on the Toronto Stock Exchange (TSX) under the ticker symbol "PXT."

Shares of PXT stock and other Canadian stocks can be purchased through an online brokerage account. Popular online brokerages with access to the Canadian stock market include BMO InvestorLine, CIBC Investor's Edge, Desjardins Online Brokerage, HSBC InvestDirect, Laurentian Bank Discount Brokerage, National Bank Direct Brokerage, Qtrade Investor, Questrade, RBC Direct Investing, Scotia iTrade, TD Direct Investing, and Virtual Brokers.
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One share of PXT stock can currently be purchased for approximately C$27.29.

Parex Resources (TSE:PXT) has a market capitalization of C$2.92 billion and generates C$1.25 billion in revenue each year. The company earns C$563.09 million in net income (profit) each year or C$6.76 on an earnings per share basis.

The company employs 371 workers across the globe.

Parex Resources' mailing address is West Tower, 585 8 Ave SW, CALGARY, AB T2P 1G1, Canada. The official website for the company is www.parexresources.com. The company can be reached via phone at +1-403-2654800.