Royal Bank Of Canada Boosts Parex Resources (TSE:PXT) Price Target to C$18.00

Parex Resources (TSE:PXT) had its price target boosted by research analysts at Royal Bank Of Canada from C$16.00 to C$18.00 in a report issued on Thursday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s target price would indicate a potential upside of 12.85% from the company’s previous close.

Separately, Scotiabank raised their target price on shares of Parex Resources from C$16.00 to C$17.00 and gave the stock a “sector perform” rating in a report on Thursday. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of C$18.58.

Parex Resources Stock Performance

Shares of PXT stock opened at C$15.95 on Thursday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.45 and a current ratio of 1.18. The company has a market capitalization of C$1.12 billion, a P/E ratio of 4.36, a price-to-earnings-growth ratio of 0.21 and a beta of 1.43. The company’s 50 day moving average price is C$14.58 and its two-hundred day moving average price is C$13.53. Parex Resources has a 52 week low of C$10.30 and a 52 week high of C$18.14.

Insider Activity

In other Parex Resources news, Director Sigmund Cornelius acquired 5,000 shares of the stock in a transaction dated Friday, June 20th. The shares were bought at an average cost of C$15.15 per share, for a total transaction of C$75,726.75. 1.64% of the stock is owned by company insiders.

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.