BMO Capital Markets Issues Positive Forecast for Parex Resources (TSE:PXT) Stock Price

Parex Resources (TSE:PXT) had its price objective upped by BMO Capital Markets from C$14.00 to C$16.00 in a research report sent to investors on Wednesday,BayStreet.CA reports.

Separately, Royal Bank of Canada lowered their target price on 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 given a buy rating to the stock. According to data from MarketBeat.com, Parex Resources has a consensus rating of “Hold” and a consensus target price of C$22.08.

Parex Resources Stock Performance

Shares of PXT opened at C$14.87 on Wednesday. The firm’s 50 day moving average price is C$14.46 and its two-hundred day moving average price is C$15.60. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.45 and a current ratio of 1.14. Parex Resources has a twelve month low of C$11.33 and a twelve month high of C$24.88. The firm has a market cap of C$1.50 billion, a P/E ratio of 3.55, a PEG ratio of 0.21 and a beta of 1.43.

Parex Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 16th were given a dividend of $0.385 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $1.54 annualized dividend and a yield of 10.36%. Parex Resources’s dividend payout ratio (DPR) is presently 36.75%.

Insider Activity at Parex Resources

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

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.