Parex Resources Inc. (TSE:PXT) Senior Officer Eric Furlan Purchases 3,000 Shares

Parex Resources Inc. (TSE:PXT) Senior Officer Eric Furlan acquired 3,000 shares of Parex Resources stock in a transaction that occurred on Friday, September 13th. The shares were bought at an average price of C$11.85 per share, with a total value of C$35,550.00.

Parex Resources Price Performance

The company has a fifty day moving average of C$17.88 and a two-hundred day moving average of C$20.81. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.14 and a quick ratio of 1.45. The firm has a market cap of C$1.20 billion, a price-to-earnings ratio of 2.93, a price-to-earnings-growth ratio of 0.21 and a beta of 1.45. Parex Resources Inc. has a 1 year low of C$11.33 and a 1 year high of C$28.23.

Parex Resources (TSE:PXT) last released its earnings results on Wednesday, July 31st. The company reported C$0.05 earnings per share for the quarter. The business had revenue of C$499.23 million for the quarter. Parex Resources had a net margin of 26.15% and a return on equity of 17.02%. Equities analysts predict that Parex Resources Inc. will post 2.5941176 earnings per share for the current year.

Parex Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 16th will be issued a $0.385 dividend. The ex-dividend date is Monday, September 9th. This represents a $1.54 dividend on an annualized basis and a dividend yield of ∞. Parex Resources’s payout ratio is currently 38.02%.

Wall Street Analyst Weigh In

PXT has been the subject of several recent analyst reports. Haywood Securities decreased their price target on Parex Resources from C$33.00 to C$25.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Eight Capital cut shares of Parex Resources from a “buy” rating to a “neutral” rating and lowered their target price for the company from C$32.50 to C$16.00 in a research note on Friday, August 30th. Cormark dropped their price target on shares of Parex Resources from C$33.00 to C$30.00 in a research report on Thursday, August 1st. Scotiabank decreased their price objective on shares of Parex Resources from C$23.00 to C$19.00 and set a “sector perform” rating for the company in a report on Friday, August 30th. Finally, Jefferies Financial Group lowered their price objective on shares of Parex Resources from C$23.80 to C$19.50 in a research note on Thursday, August 29th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Parex Resources currently has a consensus rating of “Hold” and an average price target of C$25.27.

Parex Resources Company Profile

Parex Resources Inc engages in the exploration, development, production, and marketing of oil and natural gas in Colombia. The company's principal land holdings and exploration blocks are in Colombia Llanos and Magdalena Basin. It has 55% working interest in Block LLA-34; 100% working interest in Cabrestero Block; and 50% working interest in Capachos Block and Block VIM-1.