Parex Resources Inc. (TSE:PXT – Get Free Report) has been given an average recommendation of “Hold” by the five research firms that are currently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is C$20.21.
A number of equities analysts recently commented on PXT shares. Royal Bank of Canada raised their price objective on shares of Parex Resources from C$15.00 to C$16.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 6th. BMO Capital Markets increased their target price on shares of Parex Resources from C$14.00 to C$16.00 in a research report on Wednesday, January 15th.
View Our Latest Research Report on Parex Resources
Parex Resources Trading Up 1.1 %
Parex Resources Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 18th will be given a $0.385 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.54 dividend on an annualized basis and a yield of 11.46%. Parex Resources’s payout ratio is 42.12%.
Insider Activity
In other Parex Resources news, Director Sigmund Cornelius purchased 5,000 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were acquired at an average price of C$12.61 per share, for a total transaction of C$63,063.00. 1.64% of the stock is owned by insiders.
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.
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