Parex Resources Inc. (TSE:PXT) Receives Consensus Rating of “Hold” from Brokerages

Shares of Parex Resources Inc. (TSE:PXT) have earned an average rating of “Hold” from the six analysts that are covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is C$21.74.

PXT has been the topic of a number of recent analyst reports. Scotiabank decreased their price target on Parex Resources from C$23.00 to C$19.00 and set a “sector perform” rating on the stock in a research report on Friday, August 30th. Jefferies Financial Group decreased their price target on Parex Resources from C$23.80 to C$19.50 in a research report on Thursday, August 29th. Royal Bank of Canada decreased their target price on Parex Resources from C$17.00 to C$15.00 in a research report on Tuesday, September 17th. Haywood Securities decreased their target price on Parex Resources from C$33.00 to C$25.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Finally, Eight Capital cut Parex Resources from a “buy” rating to a “neutral” rating and decreased their target price for the company from C$32.50 to C$16.00 in a research report on Friday, August 30th.

Parex Resources Stock Down 0.4 %

PXT stock opened at C$13.00 on Friday. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.14 and a quick ratio of 1.45. The stock has a market capitalization of C$1.32 billion, a price-to-earnings ratio of 3.10, a PEG ratio of 0.21 and a beta of 1.43. The business’s fifty day moving average price is C$13.68 and its two-hundred day moving average price is C$19.11. Parex Resources has a fifty-two week low of C$11.33 and a fifty-two week high of C$28.23.

Parex Resources (TSE:PXT) last issued its quarterly earnings results on Wednesday, July 31st. The company reported C$0.05 EPS for the quarter. Parex Resources had a return on equity of 17.02% and a net margin of 26.15%. The company had revenue of C$499.23 million for the quarter.

Parex Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 16th were paid a dividend of $0.385 per share. This represents a $1.54 dividend on an annualized basis and a dividend yield of 11.85%. The ex-dividend date was Monday, September 9th. Parex Resources’s payout ratio is 36.75%.

Insider Activity

In other news, Senior Officer Eric Furlan purchased 3,000 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were purchased at an average cost of C$11.85 per share, with a total value of C$35,550.00. In related news, Director Glenn Mcnamara acquired 7,200 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were bought at an average cost of C$13.08 per share, with a total value of C$94,140.00. Also, Senior Officer Eric Furlan acquired 3,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was bought at an average cost of C$11.85 per share, for a total transaction of C$35,550.00. Over the last three months, insiders have bought 54,804 shares of company stock valued at $705,285. 1.64% of the stock is currently owned by corporate insiders.

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.