Shares of Parex Resources Inc. (TSE:PXT – Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$23.83 and traded as high as C$24.40. Parex Resources shares last traded at C$24.24, with a volume of 365,437 shares traded.
Wall Street Analysts Forecast Growth
PXT has been the subject of several recent analyst reports. Stifel Nicolaus reduced their target price on shares of Parex Resources from C$32.75 to C$31.00 and set a “buy” rating for the company in a research note on Monday, March 4th. Royal Bank of Canada cut their price target on shares of Parex Resources from C$32.00 to C$28.00 and set an “outperform” rating for the company in a report on Friday, March 1st. TD Securities cut their price target on shares of Parex Resources from C$28.70 to C$27.20 in a report on Tuesday, January 16th. Finally, Scotiabank cut their price target on shares of Parex Resources from C$28.00 to C$27.00 and set a “sector perform” rating for the company in a report on Friday, March 1st.
Check Out Our Latest Analysis on PXT
Parex Resources Price Performance
Parex Resources (TSE:PXT – Get Free Report) last posted its earnings results on Thursday, February 29th. The company reported C$1.74 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of C$508.73 million during the quarter. As a group, equities analysts forecast that Parex Resources Inc. will post 5.6354916 EPS for the current fiscal year.
Parex Resources Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a dividend of $0.375 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.50 annualized dividend and a yield of 6.19%. Parex Resources’s dividend payout ratio (DPR) is currently 25.55%.
Insider Buying and Selling at Parex Resources
In other Parex Resources news, Senior Officer Imad Mohsen bought 9,500 shares of the company’s stock in a transaction on Monday, March 18th. The stock was purchased at an average cost of C$21.10 per share, for a total transaction of C$200,450.00. 1.61% of the stock is currently 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.
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