Parex Resources Inc. (TSE:PXT) Announces $0.39 Quarterly Dividend

Parex Resources Inc. (TSE:PXT) declared a quarterly dividend on Tuesday, March 11th, TickerTech Dividends reports. Investors of record on Tuesday, March 18th will be given a dividend of 0.385 per share on Tuesday, March 18th. This represents a $1.54 annualized dividend and a yield of 12.00%. The ex-dividend date is Tuesday, March 11th.

Parex Resources Trading Up 1.6 %

PXT opened at C$12.83 on Thursday. The company has a quick ratio of 1.45, a current ratio of 1.18 and a debt-to-equity ratio of 1.81. The company has a market capitalization of C$900.08 million, a P/E ratio of 3.51, a PEG ratio of 0.21 and a beta of 1.43. Parex Resources has a 52 week low of C$11.33 and a 52 week high of C$24.88. The stock’s fifty day moving average is C$14.26 and its two-hundred day moving average is C$13.92.

Insiders Place Their Bets

In other news, Director Sigmund Cornelius bought 5,000 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were bought at an average cost of C$12.61 per share, for a total transaction of C$63,063.00. Corporate insiders own 1.64% of the company’s stock.

Analysts Set New Price Targets

PXT has been the subject of a number of research reports. Royal Bank of Canada lifted their price target on Parex Resources from C$15.00 to C$16.00 and gave the stock a “sector perform” rating in a research report on Thursday, March 6th. BMO Capital Markets boosted their price objective on Parex Resources from C$14.00 to C$16.00 in a research note on Wednesday, January 15th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of C$20.21.

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.