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

Parex Resources Inc. (TSE:PXT) has been given an average recommendation of “Hold” by the six ratings firms that are presently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is C$21.44.

Separately, BMO Capital Markets increased their price objective on Parex Resources from C$14.00 to C$16.00 in a research note on Wednesday, January 15th.

Insider Buying and Selling

In related news, Senior Officer Cam Grainger purchased 13,500 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was bought 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 currently owned by insiders.

Parex Resources Stock Performance

Parex Resources stock opened at C$14.12 on Monday. The firm has a fifty day simple moving average of C$14.50 and a two-hundred day simple moving average of C$15.21. Parex Resources has a twelve month low of C$11.33 and a twelve month high of C$24.88. The company has a market capitalization of C$1.43 billion, a PE ratio of 3.37, a P/E/G ratio of 0.21 and a beta of 1.43. The company has a quick ratio of 1.45, a current ratio of 1.14 and a debt-to-equity ratio of 2.90.

Parex Resources (TSE:PXT) last released its earnings results on Tuesday, November 5th. The company reported C$0.89 earnings per share for the quarter. Parex Resources had a return on equity of 17.02% and a net margin of 26.15%.

Parex Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 16th were issued a dividend of $0.385 per share. The ex-dividend date was Monday, December 9th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 10.91%. Parex Resources’s dividend payout ratio is presently 36.75%.

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.