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.

Analysts Set New Price Targets

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

Parex Resources Price Performance

PXT Stock opened at C$21.87 on Monday. The stock has a market capitalization of C$2.45 billion and a PE ratio of 4.87. The company's 50-day moving average is C$23.74 and its 200-day moving average is C$25.42. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.84 and a quick ratio of 1.77. 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 released its quarterly earnings data on Wednesday, August 3rd. The company reported C$1.58 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of C$1.68 by C($0.10). The firm had revenue of C$572.13 million for the quarter. Equities research analysts expect that Parex Resources will post 7.9499996 EPS for the current fiscal year.

Parex Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Thursday, June 30th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date was Tuesday, June 14th. This is a boost from Parex Resources's previous quarterly dividend of $0.14. Parex Resources's dividend payout ratio is 11.18%.

Insider Transactions at Parex Resources

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