Parex Resources Inc. (TSE:PXT) Receives Average Rating of “Hold” from Brokerages

Parex Resources Inc. (TSE:PXT) has been given an average rating of “Hold” by the six ratings firms that are presently covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is C$21.44.

Separately, BMO Capital Markets increased their price objective on Parex Resources from C$14.00 to C$16.00 in a report on Wednesday, January 15th.

Insiders Place Their Bets

In other Parex Resources news, Senior Officer Cam Grainger acquired 13,500 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were 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.

Parex Resources Stock Down 1.9 %

Shares of Parex Resources stock opened at C$13.85 on Monday. The company’s 50 day moving average price is C$14.39 and its 200-day moving average price is C$14.96. Parex Resources has a 52-week low of C$11.33 and a 52-week high of C$24.88. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.45 and a current ratio of 1.14. The stock has a market capitalization of C$1.40 billion, a price-to-earnings ratio of 3.31, a P/E/G ratio of 0.21 and a beta of 1.43.

Parex Resources (TSE:PXT) last released its quarterly earnings data on Tuesday, November 5th. The company reported C$0.89 earnings per share (EPS) for the quarter. Parex Resources had a net margin of 26.15% and a return on equity of 17.02%.

Parex Resources Dividend Announcement

The company also recently disclosed 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 was Monday, December 9th. This represents a $1.54 annualized dividend and a yield of 11.12%. Parex Resources’s payout ratio is 36.75%.

About Parex Resources

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.