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 Trading Down 1.7 %

Shares of PXT opened at C$19.89 on Monday. The firm's 50 day simple moving average is C$22.90 and its 200 day simple moving average is C$25.26. The company has a market capitalization of C$2.23 billion and a P/E ratio of 4.01. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.81 and a quick ratio of 1.73. Parex Resources has a 1-year low of C$17.28 and a 1-year high of C$30.44.

Parex Resources (TSE:PXT - Get Rating) last issued its earnings results on Wednesday, August 3rd. The company reported C$1.58 earnings per share (EPS) for the quarter, missing the consensus estimate of C$1.68 by C($0.10). The firm had revenue of C$572.13 million for the quarter. Sell-side analysts forecast that Parex Resources will post 8.32 earnings per share for the current fiscal year.

Parex Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Thursday, June 30th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 5.03%. This is an increase from Parex Resources's previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Tuesday, June 14th. Parex Resources's dividend payout ratio (DPR) is presently 10.12%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Scotiabank lowered their price objective on shares of Parex Resources from C$38.00 to C$34.00 in a research report on Thursday, July 14th. Haywood Securities cut their target price on shares of Parex Resources from C$45.00 to C$39.00 and set an "outperform" rating for the company in a research note on Wednesday, July 27th. Stifel Nicolaus cut their target price on shares of Parex Resources from C$39.00 to C$37.00 in a research note on Friday, August 5th. Finally, Cormark lifted their price objective on shares of Parex Resources from C$36.00 to C$40.00 and gave the stock an "outperform" rating in a research note on Monday, April 18th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of C$36.14.

Insider Buying and Selling at Parex Resources

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