Parex Resources (TSE:PXT) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Parex Resources Inc. (TSE:PXT) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$16.31 and traded as high as C$18.71. Parex Resources shares last traded at C$17.92, with a volume of 681,581 shares.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PXT. Royal Bank Of Canada boosted their price objective on shares of Parex Resources from C$20.00 to C$21.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 7th. BMO Capital Markets upgraded shares of Parex Resources from a “hold” rating to an “outperform” rating and lifted their price target for the company from C$16.00 to C$20.00 in a research note on Monday, September 15th. Finally, Scotiabank increased their price objective on shares of Parex Resources from C$17.00 to C$20.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 9th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of C$20.33.

Parex Resources Trading Down 4.5%

The company has a market cap of C$1.75 billion, a price-to-earnings ratio of 15.19, a PEG ratio of 0.21 and a beta of 0.50. The firm has a 50 day moving average price of C$18.44 and a two-hundred day moving average price of C$16.31. The company has a quick ratio of 1.45, a current ratio of 1.18 and a debt-to-equity ratio of 1.81.

Parex Resources (TSE:PXT) last announced its earnings results on Tuesday, November 4th. The company reported C$0.52 EPS for the quarter. The company had revenue of C$311.63 million for the quarter. Parex Resources had a return on equity of 13.52% and a net margin of 19.08%.

Parex Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 15th were paid a $0.385 dividend. This represents a $1.54 dividend on an annualized basis and a yield of 8.6%. The ex-dividend date was Monday, September 8th. Parex Resources’s payout ratio is presently 92.82%.

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.