Parex Resources Inc. (OTCMKTS:PARXF) Short Interest Update

Parex Resources Inc. (OTCMKTS:PARXF) was the recipient of a large increase in short interest during the month of August. As of August 14th, there was short interest totaling 1,838,933 shares, an increase of 60.2% from the July 30th total of 1,147,616 shares. Based on an average daily volume of 190,964 shares, the short-interest ratio is currently 9.6 days.

Wall Street Analyst Weigh In

Separately, Scotiabank reaffirmed a “sector perform” rating on shares of Parex Resources in a report on Thursday, August 13th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Institutional Investors Weigh In On Parex Resources

A hedge fund recently bought a new position in Parex Resources stock. Alaska Permanent Fund Corp purchased a new stake in shares of Parex Resources Inc. (OTCMKTS:PARXF) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 653,943 shares of the company’s stock, valued at approximately $2,763,000. Parex Resources accounts for about 0.0% of Alaska Permanent Fund Corp’s investment portfolio, making the stock its 7th biggest position. 33.35% of the stock is owned by hedge funds and other institutional investors.

Parex Resources Trading Up 3.2%

Shares of Parex Resources stock traded up $0.64 on Monday, hitting $20.68. The company had a trading volume of 1,933,249 shares, compared to its average volume of 89,147. The business has a 50-day simple moving average of $17.18 and a 200-day simple moving average of $18.00. Parex Resources has a 52 week low of $11.92 and a 52 week high of $22.14.

Parex Resources Company Profile

Parex Resources Inc is a Canada-based exploration and production company primarily engaged in the acquisition, development and production of oil resources. The company holds a portfolio of prolific onshore blocks in Colombia, targeting both light and medium crude oil. Parex employs a strategic exploration approach, integrating seismic studies and advanced drilling techniques to optimize reservoir development and enhance recovery rates.

Headquartered in Calgary, Alberta, Parex has focused its operations on Colombia’s Llanos Basin and the Caguan and Putumayo basins.