Parex Resources (TSE:PXT) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Parex Resources Inc. (TSE:PXT) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$22.13 and traded as high as C$25.99. Parex Resources shares last traded at C$25.62, with a volume of 523,732 shares.

Analyst Ratings Changes

Separately, Royal Bank Of Canada lifted their target price on shares of Parex Resources from C$28.00 to C$32.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 8th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Parex Resources presently has a consensus rating of “Moderate Buy” and a consensus price target of C$23.30.

Parex Resources Trading Down 3.1%

The company has a debt-to-equity ratio of 9.51, a quick ratio of 1.45 and a current ratio of 1.49. The stock’s 50-day simple moving average is C$26.83 and its 200-day simple moving average is C$22.13. The firm has a market capitalization of C$2.46 billion, a PE ratio of 13.85, a P/E/G ratio of 0.21 and a beta of 0.18.

Parex Resources (TSE:PXT) last issued its quarterly earnings data on Tuesday, May 12th. The company reported C$0.07 earnings per share (EPS) for the quarter. The business had revenue of C$284.35 million for the quarter. Parex Resources had a net margin of 19.59% and a return on equity of 9.34%.

Parex Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 25th were given a dividend of $0.385 per share. This represents a $1.54 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date of this dividend was Wednesday, March 18th. Parex Resources’s payout ratio is presently 60.30%.

Insider Transactions at Parex Resources

In related news, insider Imad Mohsen acquired 14,600 shares of Parex Resources stock in a transaction on Thursday, May 14th. The shares were acquired at an average cost of C$27.37 per share, with a total value of C$399,602.00. Following the transaction, the insider owned 139,501 shares in the company, valued at C$3,818,142.37. This trade represents a 11.69% increase in their ownership of the stock. 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. Parex depends on a team of geologists and geophysicists, in partnership with technologies such as 3D seismic surveying, to help exploration efforts.