Sigmund Cornelius Purchases 5,000 Shares of Parex Resources Inc. (TSE:PXT) Stock

Parex Resources Inc. (TSE:PXT) Director Sigmund Cornelius bought 5,000 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average price of C$12.61 per share, for a total transaction of C$63,063.00.

Parex Resources Trading Up 0.5 %

TSE PXT traded up C$0.06 during trading on Friday, hitting C$12.69. 905,961 shares of the company’s stock traded hands, compared to its average volume of 590,016. The stock has a fifty day moving average of C$14.33 and a two-hundred day moving average of C$14.07. Parex Resources Inc. has a 12-month low of C$11.33 and a 12-month high of C$24.88. The firm has a market cap of C$890.26 million, a P/E ratio of 3.47, a PEG ratio of 0.21 and a beta of 1.43. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.18 and a quick ratio of 1.45.

Parex Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 16th were paid a $0.385 dividend. The ex-dividend date was Monday, December 9th. This represents a $1.54 dividend on an annualized basis and a yield of 12.14%. Parex Resources’s dividend payout ratio (DPR) is currently 42.12%.

Analyst Ratings Changes

Several equities analysts have commented on PXT shares. Royal Bank of Canada lifted their target price on shares of Parex Resources from C$15.00 to C$16.00 and gave the stock a “sector perform” rating in a research report on Thursday. BMO Capital Markets upped their price target on Parex Resources from C$14.00 to C$16.00 in a research report on Wednesday, January 15th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of C$20.21.

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.