Parex Resources (TSE:PXT) Reaches New 12-Month Low at $16.68

Parex Resources Inc. (TSE:PXT) reached a new 52-week low during trading on Thursday . The company traded as low as C$16.68 and last traded at C$16.73, with a volume of 207844 shares. The stock had previously closed at C$16.72.

Wall Street Analysts Forecast Growth

PXT has been the topic of a number of research analyst reports. Royal Bank of Canada lowered their price target on Parex Resources from C$28.00 to C$23.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Cormark decreased their price objective on Parex Resources from C$33.00 to C$30.00 in a report on Thursday, August 1st. Finally, Jefferies Financial Group decreased their price objective on Parex Resources from C$27.20 to C$23.80 in a report on Thursday, August 1st.

Parex Resources Stock Performance

The business has a 50 day simple moving average of C$20.85 and a 200 day simple moving average of C$21.86. The company has a quick ratio of 1.45, a current ratio of 1.25 and a debt-to-equity ratio of 3.35. The company has a market capitalization of C$1.71 billion, a PE ratio of 3.10, a PEG ratio of 0.21 and a beta of 1.56.

Parex Resources (TSE:PXT) last announced its quarterly earnings data on Wednesday, July 31st. The company reported C$0.05 earnings per share for the quarter. Parex Resources had a return on equity of 22.25% and a net margin of 35.11%. The business had revenue of C$499.23 million for the quarter. Equities research analysts predict that Parex Resources Inc. will post 5.2746479 EPS for the current fiscal year.

Parex Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be paid a $0.385 dividend. This represents a $1.54 annualized dividend and a dividend yield of 9.21%. The ex-dividend date of this dividend is Monday, September 9th. Parex Resources’s dividend payout ratio is currently 28.52%.

Insider Activity at Parex Resources

In other news, Director Robert John Engbloom bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The stock was purchased at an average cost of C$23.22 per share, for a total transaction of C$232,200.00. Company insiders own 1.54% of the company’s stock.

Parex Resources Company Profile

Parex Resources Inc engages in the exploration, development, production, and marketing of oil and natural gas in Colombia. The company's principal land holdings and exploration blocks are in Colombia Llanos and Magdalena Basin. It has 55% working interest in Block LLA-34; 100% working interest in Cabrestero Block; and 50% working interest in Capachos Block and Block VIM-1.