Parex Resources (TSE:PXT) Reaches New 12-Month Low at $16.68

Parex Resources Inc. (TSE:PXT) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as C$16.68 and last traded at C$16.73, with a volume of 207844 shares traded. The stock had previously closed at C$16.72.

Analysts Set New Price Targets

PXT has been the topic of several research analyst reports. Jefferies Financial Group decreased their price target on shares of Parex Resources from C$27.20 to C$23.80 in a research report on Thursday, August 1st. Cormark decreased their target price on shares of Parex Resources from C$33.00 to C$30.00 in a research report on Thursday, August 1st. Finally, Royal Bank of Canada cut their price target on shares of Parex Resources from C$28.00 to C$23.00 and set an “outperform” rating for the company in a report on Friday, August 2nd.

Parex Resources Stock Performance

The company has a market capitalization of C$1.71 billion, a P/E ratio of 3.10, a P/E/G ratio of 0.21 and a beta of 1.56. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.25 and a quick ratio of 1.45. The stock’s 50 day simple moving average is C$20.85 and its two-hundred day simple moving average is C$21.86.

Parex Resources (TSE:PXT) last posted its quarterly earnings results on Wednesday, July 31st. The company reported C$0.05 earnings per share for the quarter. The business had revenue of C$499.23 million during the quarter. Parex Resources had a net margin of 35.11% and a return on equity of 22.25%. As a group, research analysts expect that Parex Resources Inc. will post 5.2746479 earnings per share for the current year.

Parex Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be paid a dividend of $0.385 per share. This represents a $1.54 dividend on an annualized basis and a dividend yield of 9.21%. The ex-dividend date is Monday, September 9th. Parex Resources’s dividend payout ratio (DPR) is 28.52%.

Insider Buying and Selling

In other news, Director Robert John Engbloom acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The stock was purchased at an average price of C$23.22 per share, for a total transaction of C$232,200.00. 1.54% of the stock is currently owned by insiders.

Parex Resources Company Profile

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.