Parex Resources (TSE:PXT) Stock: Insider Eric Furlan Sells 8,000 Shares

Parex Resources Inc. (TSE:PXT) insider Eric Furlan sold 8,000 shares of the business’s stock in a transaction on Thursday, October 22nd. The shares were sold at an average price of C$29.20, for a total value of C$233,600.00. Following the completion of the sale, the insider owned 111,301 shares in the company, valued at approximately C$3,249,989.20. The trade was a 6.71% decrease in their ownership of the stock.

Parex Resources Price Performance

Shares of TSE PXT opened at C$30.13 on Friday. The company has a debt-to-equity ratio of 34.66, a quick ratio of 1.45 and a current ratio of 0.88. The stock has a market cap of C$2.90 billion, a PE ratio of 5.06, a price-to-earnings-growth ratio of 0.21 and a beta of 0.17. Parex Resources Inc. has a fifty-two week low of C$17.12 and a fifty-two week high of C$30.44. The stock has a fifty day moving average of C$28.09 and a 200-day moving average of C$26.13.

Parex Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 15th were paid a $0.3850 dividend. This represents a $1.54 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend was Tuesday, September 8th. Parex Resources’s dividend payout ratio is currently 18.57%.

Analyst Ratings Changes

Separately, Scotiabank boosted their target price on Parex Resources from C$29.00 to C$30.00 and gave the company a “sector perform” rating in a research note on Thursday, August 13th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Parex Resources currently has an average rating of “Hold” and an average price target of C$26.62.

About Parex Resources

Parex is the largest independent oil and gas company in Colombia, focusing on sustainable conventional production. The Company’s corporate headquarters are in Calgary, Canada, with an operating office in Bogota, Colombia.