Parex Resources (TSE:PXT) Share Price Crosses Above Two Hundred Day Moving Average of $23.86

Parex Resources Inc. (TSE:PXT)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$23.86 and traded as high as C$23.88. Parex Resources shares last traded at C$23.61, with a volume of 399,570 shares trading hands.

Analyst Ratings Changes

PXT has been the topic of several recent analyst reports. Scotiabank cut their target price on shares of Parex Resources from C$28.00 to C$27.00 and set a “sector perform” rating on the stock in a report on Friday, March 1st. Stifel Nicolaus cut their price target on shares of Parex Resources from C$32.75 to C$31.00 and set a “buy” rating on the stock in a report on Monday, March 4th. Royal Bank of Canada lowered their price objective on shares of Parex Resources from C$32.00 to C$28.00 and set an “outperform” rating for the company in a research note on Friday, March 1st. Finally, TD Securities dropped their target price on shares of Parex Resources from C$28.70 to C$27.20 in a report on Tuesday, January 16th.

Parex Resources Stock Up 0.1 %

The company has a market capitalization of C$2.44 billion, a P/E ratio of 4.02, a price-to-earnings-growth ratio of 0.21 and a beta of 1.62. The company has a 50-day moving average of C$21.71 and a two-hundred day moving average of C$23.86. The company has a quick ratio of 1.45, a current ratio of 1.31 and a debt-to-equity ratio of 4.93.

Parex Resources (TSE:PXT) last announced its earnings results on Thursday, February 29th. The company reported C$1.74 earnings per share for the quarter, beating analysts’ consensus estimates of C$1.42 by C$0.32. Parex Resources had a net margin of 39.26% and a return on equity of 25.03%. The business had revenue of C$508.73 million during the quarter. On average, research analysts predict that Parex Resources Inc. will post 5.6354916 EPS for the current year.

Parex Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a dividend of $0.375 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.50 annualized dividend and a dividend yield of 6.35%. Parex Resources’s payout ratio is presently 25.55%.

Insider Transactions at Parex Resources

In other news, Senior Officer Imad Mohsen bought 9,500 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was acquired at an average cost of C$21.10 per share, with a total value of C$200,450.00. 1.61% of the stock is owned by insiders.

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.