Parex Resources Inc. (TSE:PXT) Senior Officer Imad Mohsen Purchases 13,100 Shares

Parex Resources Inc. (TSE:PXT) Senior Officer Imad Mohsen purchased 13,100 shares of the stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average price of C$13.33 per share, for a total transaction of C$174,623.00.

Parex Resources Trading Down 2.1 %

PXT stock opened at C$13.25 on Wednesday. Parex Resources Inc. has a one year low of C$11.33 and a one year high of C$28.23. The stock has a market cap of C$1.34 billion, a price-to-earnings ratio of 3.22, a price-to-earnings-growth ratio of 0.21 and a beta of 1.47. The company has a fifty day moving average price of C$19.14 and a two-hundred day moving average price of C$21.22. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.14 and a quick ratio of 1.45.

Parex Resources (TSE:PXT) last posted its earnings results on Wednesday, July 31st. The company reported C$0.05 earnings per share (EPS) for the quarter. Parex Resources had a net margin of 26.15% and a return on equity of 17.02%. The company had revenue of C$499.23 million during the quarter. Equities analysts anticipate that Parex Resources Inc. will post 4.0255814 EPS for the current year.

Parex Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 16th will be given a $0.385 dividend. This represents a $1.54 annualized dividend and a dividend yield of 11.62%. The ex-dividend date of this dividend is Monday, September 9th. Parex Resources’s payout ratio is 37.38%.

Analysts Set New Price Targets

A number of research firms recently issued reports on PXT. Cormark lowered their target price on Parex Resources from C$33.00 to C$30.00 in a research report on Thursday, August 1st. Haywood Securities lowered their price target on Parex Resources from C$33.00 to C$25.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Royal Bank of Canada downgraded Parex Resources from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from C$23.00 to C$17.00 in a report on Thursday, August 29th. Scotiabank decreased their target price on shares of Parex Resources from C$23.00 to C$19.00 and set a “sector perform” rating for the company in a research note on Friday, August 30th. Finally, Eight Capital lowered shares of Parex Resources from a “buy” rating to a “neutral” rating and dropped their price target for the stock from C$32.50 to C$16.00 in a research report on Friday, August 30th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of C$25.27.

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.