Parex Resources (TSE:PXT) Shares Cross Above 200-Day Moving Average – What’s Next?

Parex Resources Inc. (TSE:PXT)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$15.99 and traded as high as C$18.73. Parex Resources shares last traded at C$18.56, with a volume of 491,309 shares.

Analyst Upgrades and Downgrades

PXT has been the subject of a number of recent research reports. BMO Capital Markets upgraded Parex Resources from a “hold” rating to an “outperform” rating and lifted their target price for the stock from C$16.00 to C$20.00 in a report on Monday, September 15th. Royal Bank Of Canada lifted their price target on shares of Parex Resources from C$20.00 to C$21.00 and gave the stock a “sector perform” rating in a research note on Tuesday, October 7th. Finally, Scotiabank increased their price target on Parex Resources from C$17.00 to C$20.00 and gave the stock a “sector perform” rating in a report on Thursday, October 9th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Parex Resources currently has an average rating of “Hold” and a consensus price target of C$20.33.

Parex Resources Price Performance

The company has a debt-to-equity ratio of 1.81, a current ratio of 1.18 and a quick ratio of 1.45. The stock has a market capitalization of C$1.87 billion, a price-to-earnings ratio of 16.25, a PEG ratio of 0.21 and a beta of 0.50. The stock’s 50 day simple moving average is C$18.37 and its 200-day simple moving average is C$16.07.

Parex Resources (TSE:PXT) last released its quarterly earnings data on Tuesday, November 4th. The company reported C$0.52 earnings per share (EPS) for the quarter. The business had revenue of C$311.63 million during the quarter. Parex Resources had a net margin of 19.08% and a return on equity of 13.52%.

Parex Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 15th were paid a $0.385 dividend. This represents a $1.54 dividend on an annualized basis and a dividend yield of 8.0%. The ex-dividend date of this dividend was Monday, September 8th. Parex Resources’s dividend payout ratio (DPR) is presently 92.82%.

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.