Parex Resources Inc. (TSE:PXT) Senior Officer Cam Grainger Purchases 13,500 Shares

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

Parex Resources Stock Up 1.6 %

Parex Resources stock opened at C$13.75 on Friday. Parex Resources Inc. has a fifty-two week low of C$11.33 and a fifty-two week high of C$25.78. 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 capitalization of C$1.39 billion, a price-to-earnings ratio of 3.28, a PEG ratio of 0.21 and a beta of 1.43. The company’s 50 day simple moving average is C$13.91 and its 200 day simple moving average is C$16.87.

Parex Resources Dividend Announcement

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

Wall Street Analyst Weigh In

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

About Parex Resources

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.