Parex Resources Inc. (TSE:PXT) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Parex Resources Inc. (TSE:PXT) have been assigned an average recommendation of “Hold” from the five research firms that are covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is C$20.21.

PXT has been the subject of a number of recent research reports. Royal Bank of Canada raised their target price on Parex Resources from C$15.00 to C$16.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 6th. BMO Capital Markets increased their price objective on shares of Parex Resources from C$14.00 to C$16.00 in a research report on Wednesday, January 15th.

Parex Resources Stock Up 2.5 %

Shares of PXT opened at C$13.83 on Tuesday. The firm has a market cap of C$970.23 million, a P/E ratio of 3.78, a PEG 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 stock’s 50 day moving average is C$13.93 and its two-hundred day moving average is C$13.73. The company has a current ratio of 1.18, a quick ratio of 1.45 and a debt-to-equity ratio of 1.81.

Parex Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 18th were given a $0.385 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $1.54 annualized dividend and a dividend yield of 11.14%. Parex Resources’s dividend payout ratio is currently 42.12%.

Insider Buying and Selling

In related news, Director Sigmund Cornelius acquired 5,000 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was bought at an average price of C$12.61 per share, with a total value of C$63,063.00. 1.64% of the stock is currently owned by company insiders.

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.