Royal Bank Of Canada Increases Parex Resources (TSE:PXT) Price Target to C$28.00

Parex Resources (TSE:PXT) had its price target lifted by Royal Bank Of Canada from C$23.00 to C$28.00 in a report issued on Friday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price target suggests a potential upside of 7.36% from the stock’s previous close.

A number of other analysts also recently issued reports on PXT. Jefferies Financial Group increased their price target on shares of Parex Resources from C$18.00 to C$20.50 in a report on Monday, December 15th. Roth Mkm set a C$24.00 price objective on shares of Parex Resources and gave the company a “buy” rating in a report on Friday, December 12th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$22.50.

Parex Resources Trading Up 1.4%

Shares of TSE:PXT opened at C$26.08 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.45 and a debt-to-equity ratio of 2.16. Parex Resources has a 12-month low of C$10.30 and a 12-month high of C$26.33. The business has a 50 day moving average of C$20.78 and a two-hundred day moving average of C$19.10. The company has a market capitalization of C$2.50 billion, a PE ratio of 9.95, a PEG ratio of 0.21 and a beta of 0.63.

Parex Resources (TSE:PXT) last issued its quarterly earnings data on Wednesday, March 4th. The company reported C$0.43 EPS for the quarter. The business had revenue of C$223.53 million for the quarter. Parex Resources had a net margin of 26.85% and a return on equity of 13.39%.

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. Parex depends on a team of geologists and geophysicists, in partnership with technologies such as 3D seismic surveying, to help exploration efforts.