Parex Resources (TSE:PXT) Shares Cross Above 200 Day Moving Average of $19.57

Parex Resources Inc. (TSE:PXT) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$19.57 and traded as high as C$23.61. Parex Resources shares last traded at C$23.16, with a volume of 438,465 shares trading hands.

A number of research analysts have issued reports on the company. National Bankshares lowered their price objective on Parex Resources from C$35.00 to C$34.00 and set an “outperform” rating for the company in a research note on Friday, April 16th. Haywood Securities lifted their price objective on Parex Resources from C$31.00 to C$32.50 and gave the company a “buy” rating in a research note on Tuesday, April 27th. CIBC lifted their price objective on Parex Resources to C$27.50 and gave the company an “outperform” rating in a research note on Friday, April 16th. Scotiabank lifted their price objective on Parex Resources from C$30.00 to C$31.00 in a research note on Thursday, April 15th. Finally, National Bank Financial lowered their price objective on Parex Resources from C$35.00 to C$34.00 and set an “outperform” rating for the company in a research note on Friday, April 16th. Five investment analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and a consensus target price of C$30.72.

The firm has a market cap of C$2.98 billion and a P/E ratio of 26.56. The stock has a fifty day simple moving average of C$22.40 and a 200 day simple moving average of C$19.57. The company has a debt-to-equity ratio of 0.19, a quick ratio of 3.49 and a current ratio of 3.61.

Parex Resources (TSE:PXT) last posted its earnings results on Wednesday, March 3rd. The company reported C$0.55 EPS for the quarter, topping the Zacks’ consensus estimate of C$0.41 by C$0.14. The business had revenue of C$218.01 million during the quarter. Research analysts predict that Parex Resources Inc. will post 3.1400002 earnings per share for the current year.

In related news, Director Robert John Engbloom sold 20,000 shares of Parex Resources stock in a transaction on Thursday, February 11th. The stock was sold at an average price of C$21.31, for a total value of C$426,190.00. Following the completion of the sale, the director now owns 50,000 shares of the company’s stock, valued at C$1,065,475. Also, Senior Officer Kenneth George Pinsky sold 2,600 shares of Parex Resources stock in a transaction on Friday, February 12th. The stock was sold at an average price of C$21.42, for a total value of C$55,692.00. Following the completion of the sale, the insider now directly owns 351,187 shares of the company’s stock, valued at approximately C$7,522,425.54. Insiders sold 232,565 shares of company stock valued at $5,185,676 in the last ninety days.

Parex Resources Company Profile (TSE:PXT)

Parex Resources Inc engages in the exploration, development, production, and marketing of oil and natural gas in Colombia. The company holds interests in onshore exploration and production blocks totaling approximately 2,323,941 gross acres. As of December 31, 2020, it had proved plus probable reserves of 194,491 million barrels of oil equivalent.

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