Brokerages Set Parex Resources Inc. (TSE:PXT) Price Target at C$21.44

Parex Resources Inc. (TSE:PXT) has been given a consensus recommendation of “Hold” by the six ratings firms that are currently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is C$21.44.

Separately, BMO Capital Markets lifted their price target on shares of Parex Resources from C$14.00 to C$16.00 in a research note on Wednesday, January 15th.

Insider Activity

In other Parex Resources news, Senior Officer Cam Grainger purchased 13,500 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was acquired at an average cost of C$13.45 per share, with a total value of C$181,575.00. Company insiders own 1.64% of the company’s stock.

Parex Resources Stock Performance

Shares of PXT stock opened at C$14.32 on Friday. The company’s fifty day simple moving average is C$14.35 and its 200-day simple moving average is C$14.20. Parex Resources has a 52 week low of C$11.33 and a 52 week high of C$24.88. The company has a current ratio of 1.18, a quick ratio of 1.45 and a debt-to-equity ratio of 1.81. The company has a market cap of C$1.00 billion, a PE ratio of 3.92, a P/E/G ratio of 0.21 and a beta of 1.43.

Parex Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 16th were issued a $0.385 dividend. This represents a $1.54 annualized dividend and a dividend yield of 10.75%. The ex-dividend date was Monday, December 9th. Parex Resources’s dividend payout ratio (DPR) is presently 42.12%.

Parex Resources Company Profile

Parex Resources Inc engages in exploration, development, and production of crude oil. The company brings technology utilized in the Western Canada Sedimentary Basin to South American basins with large oil-in-place potential. Majority of the company’s properties are focused in Colombia, where it pays a royalty or tax to the government for its operations.