BMO Capital Markets Increases Parex Resources (TSE:PXT) Price Target to C$16.00

Parex Resources (TSE:PXT) had its price objective lifted by analysts at BMO Capital Markets from C$14.00 to C$16.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. BMO Capital Markets’ target price suggests a potential upside of 6.45% from the stock’s current price.

Separately, Royal Bank of Canada cut their price objective on shares of Parex Resources from C$17.00 to C$15.00 in a research report on Tuesday, September 17th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of C$22.08.

Parex Resources Stock Performance

PXT stock traded down C$0.13 during trading on Wednesday, reaching C$15.03. The stock had a trading volume of 567,194 shares, compared to its average volume of 494,109. The stock’s 50 day moving average is C$14.44 and its two-hundred day moving average is C$15.61. The firm has a market cap of C$1.52 billion, a PE ratio of 3.59, a PEG ratio of 0.21 and a beta of 1.43. Parex Resources has a 52 week low of C$11.33 and a 52 week high of C$24.88. The company has a current ratio of 1.14, a quick ratio of 1.45 and a debt-to-equity ratio of 2.90.

Insider Activity

In related news, Senior Officer Cam Grainger purchased 13,500 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were acquired at an average price of C$13.45 per share, for a total transaction of C$181,575.00. Company insiders own 1.64% of the company’s stock.

About Parex Resources

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.