Parex Resources (TSE:PXT) Reaches New 12-Month Low – Time to Sell?

Parex Resources Inc. (TSE:PXT) shares hit a new 52-week low on Friday . The stock traded as low as C$11.32 and last traded at C$11.33, with a volume of 487491 shares trading hands. The stock had previously closed at C$12.85.

Wall Street Analyst Weigh In

PXT has been the subject of several analyst reports. BMO Capital Markets raised their target price on shares of Parex Resources from C$14.00 to C$16.00 in a report on Wednesday, January 15th. Royal Bank of Canada raised their price objective on shares of 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. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of C$20.21.

Parex Resources Stock Down 11.8 %

The company has a market cap of C$795.55 million, a P/E ratio of 3.10, a price-to-earnings-growth ratio of 0.21 and a beta of 1.43. 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’s fifty day moving average is C$13.69 and its two-hundred day moving average is C$13.74.

Parex Resources Dividend Announcement

The company also recently declared 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 was Tuesday, March 11th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 13.58%. Parex Resources’s payout ratio is 42.12%.

Insider Buying and Selling

In other Parex Resources news, Director Sigmund Cornelius purchased 5,000 shares of Parex Resources stock in a transaction dated Friday, March 7th. The stock was acquired at an average price of C$12.61 per share, for a total transaction of C$63,063.00. 1.64% of the stock is owned by 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.