Jefferies Financial Group Issues Positive Forecast for Parex Resources (TSE:PXT) Stock Price

Parex Resources (TSE:PXT) had its price objective boosted by Jefferies Financial Group from C$18.00 to C$20.50 in a report published on Monday,BayStreet.CA reports.

Other equities research analysts have also recently issued research reports about the stock. Scotiabank raised their price objective on shares of Parex Resources from C$17.00 to C$20.00 and gave the company a “sector perform” rating in a research report on Thursday, October 9th. Roth Capital set a C$24.00 price target on shares of Parex Resources and gave the company a “buy” rating in a research note on Friday. BMO Capital Markets raised shares of Parex Resources from a “hold” rating to an “outperform” rating and raised their price target for the company from C$16.00 to C$20.00 in a report on Monday, September 15th. Finally, 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. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Parex Resources presently has an average rating of “Moderate Buy” and an average target price of C$21.10.

Parex Resources Trading Up 1.2%

Shares of PXT opened at C$18.23 on Monday. 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 cap of C$1.78 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 0.21 and a beta of 0.61. The stock has a fifty day moving average price of C$18.34 and a two-hundred day moving average price of C$16.84. Parex Resources has a 52-week low of C$10.30 and a 52-week high of C$19.81.

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

Parex Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 15th were given a dividend of $0.385 per share. The ex-dividend date was Monday, December 8th. This represents a $1.54 annualized dividend and a dividend yield of 8.4%. Parex Resources’s payout ratio is currently 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.