Parex Resources Inc. (TSE:PXT) Plans Quarterly Dividend of $0.39

Parex Resources Inc. (TSE:PXT) declared a quarterly dividend on Tuesday, November 5th, Zacks reports. Shareholders of record on Monday, December 9th will be given a dividend of 0.385 per share on Monday, December 16th. This represents a $1.54 dividend on an annualized basis and a yield of 11.01%. The ex-dividend date is Monday, December 9th.

Parex Resources Stock Performance

TSE:PXT opened at C$13.99 on Thursday. 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 firm has a 50-day moving average of C$12.97 and a two-hundred day moving average of C$18.54. The stock has a market cap of C$1.42 billion, a P/E ratio of 3.34, a PEG ratio of 0.21 and a beta of 1.43. Parex Resources has a 1-year low of C$11.33 and a 1-year high of C$28.23.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PXT shares. Scotiabank decreased their price objective on shares of Parex Resources from C$23.00 to C$19.00 and set a “sector perform” rating for the company in a research report on Friday, August 30th. Haywood Securities reduced their price target on shares of 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. Royal Bank of Canada reduced their price target on shares of Parex Resources from C$17.00 to C$15.00 in a research report on Tuesday, September 17th. Jefferies Financial Group reduced their price target on shares of Parex Resources from C$23.80 to C$19.50 in a research report on Thursday, August 29th. Finally, BMO Capital Markets set a C$13.00 price target on shares of Parex Resources and gave the stock a “market perform” rating in a research report on Thursday, September 19th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Parex Resources currently has a consensus rating of “Hold” and an average target price of C$21.74.

Insiders Place Their Bets

In other Parex Resources news, Senior Officer Eric Furlan bought 3,000 shares of the business’s stock in a transaction on Friday, September 13th. The shares were purchased at an average price of C$11.85 per share, with a total value of C$35,550.00. In other news, Senior Officer Eric Furlan purchased 3,000 shares of the company’s stock in a transaction on Friday, September 13th. The shares were bought at an average price of C$11.85 per share, for a total transaction of C$35,550.00. Also, Director Sigmund Cornelius purchased 10,000 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was purchased at an average price of C$12.10 per share, for a total transaction of C$121,040.00. Insiders have acquired 54,804 shares of company stock valued at $705,285 over the last quarter. Insiders own 1.64% of the company’s stock.

About Parex Resources

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.