BMO Capital Markets Boosts Parex Resources (TSE:PXT) Price Target to C$16.00

Posted by Hayley Millar on Jan 15th, 2025

Parex Resources (TSE:PXT – Get Free Report) had its target price lifted by analysts at BMO Capital Markets from C$14.00 to C$16.00 in a report issued on Wednesday,BayStreet.CA reports. BMO Capital Markets’ price objective would suggest a potential upside of 6.45% from the company’s current price.

Separately, Royal Bank of Canada cut their target price on Parex Resources from C$17.00 to C$15.00 in a research note on Tuesday, September 17th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Parex Resources presently has an average rating of “Hold” and a consensus price target of C$22.08.

View Our Latest Stock Report on Parex Resources

Parex Resources Stock Down 0.9 %

PXT stock traded down C$0.13 during mid-day trading on Wednesday, reaching C$15.03. 567,194 shares of the company traded hands, compared to its average volume of 494,109. The stock has a market cap of C$1.52 billion, a price-to-earnings ratio of 3.59, a P/E/G ratio of 0.21 and a beta of 1.43. Parex Resources has a fifty-two week low of C$11.33 and a fifty-two week high of C$24.88. The firm’s 50 day moving average price is C$14.44 and its 200 day moving average price is C$15.61. The company has a quick ratio of 1.45, a current ratio of 1.14 and a debt-to-equity ratio of 2.90.

Insider Buying and Selling at Parex Resources

In other Parex Resources news, Senior Officer Cam Grainger bought 13,500 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was acquired at an average price of C$13.45 per share, with a total value of C$181,575.00. Company insiders own 1.64% of the company’s stock.

About Parex Resources

(Get Free Report)

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.