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

Parex Resources Inc. (TSE:PXT) declared a quarterly dividend on Monday, June 9th, TickerTech Dividends reports. Stockholders of record on Monday, June 16th will be given a dividend of 0.385 per share on Monday, June 16th. This represents a $1.54 annualized dividend and a dividend yield of 10.38%. The ex-dividend date of this dividend is Monday, June 9th.

Parex Resources Stock Performance

PXT stock opened at C$14.84 on Friday. The stock has a 50-day moving average price of C$12.18 and a 200-day moving average price of C$13.45. Parex Resources has a 1-year low of C$10.30 and a 1-year high of C$22.75. The company has a current ratio of 1.18, a quick ratio of 1.45 and a debt-to-equity ratio of 1.81. The firm has a market cap of C$1.04 billion, a PE ratio of 4.06, a price-to-earnings-growth ratio of 0.21 and a beta of 1.43.

Analysts Set New Price Targets

Separately, Royal Bank of Canada lifted their price objective on Parex Resources from C$15.00 to C$16.00 and gave the stock a “sector perform” rating in a research report on Thursday, March 6th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Parex Resources currently has a consensus rating of “Hold” and an average price target of C$20.21.

Insider Transactions at Parex Resources

In other news, Senior Officer Imad Mohsen bought 23,250 shares of the firm’s stock in a transaction that occurred on Friday, April 11th. The stock was acquired at an average cost of C$10.83 per share, with a total value of C$251,797.50. Corporate insiders own 1.64% of the company’s stock.

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.