Parex Resources Inc. Announces Quarterly Dividend of $0.39 (TSE:PXT)

Parex Resources Inc. (TSE:PXT) declared a quarterly dividend on Tuesday, March 11th, TickerTech Dividends reports. Investors of record on Tuesday, March 18th will be paid a dividend of 0.385 per share on Tuesday, March 18th. This represents a $1.54 annualized dividend and a yield of 12.22%. The ex-dividend date of this dividend is Tuesday, March 11th.

Parex Resources Stock Performance

Parex Resources stock traded down C$0.03 during mid-day trading on Wednesday, hitting C$12.60. The company had a trading volume of 60,131 shares, compared to its average volume of 619,240. The company has a market capitalization of C$883.94 million, a price-to-earnings ratio of 3.45, a P/E/G ratio of 0.21 and a beta of 1.43. Parex Resources has a 12-month low of C$11.33 and a 12-month high of C$24.88. The company’s fifty day moving average is C$14.26 and its 200-day moving average is C$13.92. The company has a current ratio of 1.18, a quick ratio of 1.45 and a debt-to-equity ratio of 1.81.

Insider Activity at Parex Resources

In other Parex Resources news, Senior Officer Cam Grainger bought 13,500 shares of Parex Resources stock in a transaction dated Thursday, December 12th. The stock was acquired at an average cost of C$13.45 per share, for a total transaction of C$181,575.00. Also, Director Sigmund Cornelius purchased 5,000 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was acquired at an average cost of C$12.61 per share, for a total transaction of C$63,063.00. 1.64% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently commented on PXT shares. Royal Bank of Canada raised their price target on shares of Parex Resources from C$15.00 to C$16.00 and gave the company a “sector perform” rating in a research report on Thursday, March 6th. BMO Capital Markets lifted their price target on Parex Resources from C$14.00 to C$16.00 in a research note on Wednesday, January 15th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of C$20.21.

About Parex Resources

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.