Parex Resources Inc. (TSE:PXT) Senior Officer Purchases C$251,797.50 in Stock

Parex Resources Inc. (TSE:PXT) Senior Officer Imad Mohsen acquired 23,250 shares of Parex Resources stock in a transaction that occurred on Friday, April 11th. The stock was bought at an average price of C$10.83 per share, for a total transaction of C$251,797.50.

Parex Resources Stock Up 2.6 %

Shares of TSE:PXT opened at C$11.09 on Monday. Parex Resources Inc. has a 1 year low of C$10.30 and a 1 year high of C$24.88. The firm’s 50-day moving average is C$13.30 and its two-hundred day moving average is C$13.69. The firm has a market capitalization of C$778.01 million, a PE ratio of 3.03, a price-to-earnings-growth ratio of 0.21 and a beta of 1.43. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.18 and a quick ratio of 1.45.

Parex Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 18th were paid a $0.385 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $1.54 dividend on an annualized basis and a yield of 13.89%. Parex Resources’s dividend payout ratio is currently 42.12%.

Analyst Ratings Changes

A number of brokerages have weighed in on PXT. Royal Bank of Canada lifted their price target on shares of Parex Resources from C$15.00 to C$16.00 and gave the company a “sector perform” rating in a research report on Thursday, March 6th. BMO Capital Markets lifted their target price on shares of Parex Resources from C$14.00 to C$16.00 in a report on Wednesday, January 15th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of C$20.21.

About Parex Resources

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.