Parex Resources Inc. (TSE:PXT) Senior Officer Acquires C$181,575.00 in Stock

Parex Resources Inc. (TSE:PXTGet Free Report) Senior Officer Cam Grainger purchased 13,500 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was bought at an average cost of C$13.45 per share, for a total transaction of C$181,575.00.

Parex Resources Stock Performance

Shares of PXT stock opened at C$13.75 on Friday. Parex Resources Inc. has a 12 month low of C$11.33 and a 12 month high of C$25.78. The company has a current ratio of 1.14, a quick ratio of 1.45 and a debt-to-equity ratio of 2.90. The company’s fifty day moving average price is C$13.91 and its 200-day moving average price is C$16.83. The stock has a market cap of C$1.39 billion, a PE ratio of 3.28, a price-to-earnings-growth ratio of 0.21 and a beta of 1.43.

Parex Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 16th will be issued a dividend of $0.385 per share. The ex-dividend date is Monday, December 9th. This represents a $1.54 annualized dividend and a dividend yield of 11.20%. Parex Resources’s payout ratio is 36.75%.

Analyst Ratings Changes

Several brokerages recently issued reports on PXT. Eight Capital lowered shares of Parex Resources from a “buy” rating to a “neutral” rating and cut their target price for the stock from C$32.50 to C$16.00 in a research report on Friday, August 30th. Royal Bank of Canada cut their price objective on Parex Resources from C$17.00 to C$15.00 in a report on Tuesday, September 17th. Jefferies Financial Group reduced their price objective on Parex Resources from C$23.80 to C$19.50 in a research report on Thursday, August 29th. BMO Capital Markets boosted their target price on Parex Resources from C$13.00 to C$14.00 in a research report on Thursday, November 7th. Finally, Haywood Securities reduced their price target on shares of Parex Resources from C$33.00 to C$25.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of C$21.86.

Read Our Latest Stock Analysis on PXT

Parex Resources Company Profile

(Get Free Report)

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.

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