Parex Resources (TSE:PXT) Stock Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Parex Resources Inc. (TSE:PXT)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$13.73 and traded as high as C$14.10. Parex Resources shares last traded at C$13.80, with a volume of 454,574 shares trading hands.

Analyst Ratings Changes

Several research firms have weighed in on PXT. Royal Bank of Canada upped 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 upped their price target on shares of Parex Resources from C$14.00 to C$16.00 in a research report 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 MarketBeat.com, Parex Resources currently has an average rating of “Hold” and a consensus price target of C$20.21.

Parex Resources Trading Down 1.7 %

The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.45 and a current ratio of 1.18. The business has a 50 day moving average of C$13.86 and a two-hundred day moving average of C$13.73. The firm has a market capitalization of C$951.99 million, a price-to-earnings ratio of 3.71, a P/E/G ratio of 0.21 and a beta of 1.43.

Parex Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 18th were issued a $0.385 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 11.35%. Parex Resources’s dividend payout ratio is presently 42.12%.

Insider Buying and Selling at Parex Resources

In other news, Director Sigmund Cornelius bought 5,000 shares of the company’s stock in a transaction on Friday, March 7th. The shares were purchased at an average price of C$12.61 per share, with a total value of C$63,063.00. Company insiders own 1.64% of the company’s stock.

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.