Parex Resources Inc. (TSE:PXT) Given Average Recommendation of “Hold” by Analysts

Shares of Parex Resources Inc. (TSE:PXT) have been given a consensus rating of “Hold” by the six analysts that are presently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is C$21.86.

PXT has been the subject of a number of research reports. 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. BMO Capital Markets lifted their price objective on Parex Resources from C$13.00 to C$14.00 in a research report on Thursday, November 7th.

Insiders Place Their Bets

In other news, Senior Officer Cam Grainger bought 13,500 shares of the stock in a transaction on Thursday, December 12th. The stock was purchased at an average cost of C$13.45 per share, with a total value of C$181,575.00. 1.64% of the stock is owned by corporate insiders.

Parex Resources Price Performance

PXT stock opened at C$15.24 on Thursday. The firm has a 50 day moving average of C$14.15 and a 200-day moving average of C$15.86. Parex Resources has a 12-month low of C$11.33 and a 12-month high of C$25.77. The company has a current ratio of 1.14, a quick ratio of 1.45 and a debt-to-equity ratio of 2.90. The company has a market cap of C$1.54 billion, a price-to-earnings ratio of 3.64, a PEG ratio of 0.21 and a beta of 1.43.

Parex Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 16th were paid a $0.385 dividend. The ex-dividend date was Monday, December 9th. This represents a $1.54 annualized dividend and a yield of 10.10%. Parex Resources’s payout ratio is currently 36.75%.

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.