Parex Resources (TSE:PXT) Share Price Crosses Above Two Hundred Day Moving Average of $23.86

Parex Resources Inc. (TSE:PXT) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$23.86 and traded as high as C$23.88. Parex Resources shares last traded at C$23.61, with a volume of 399,570 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on PXT shares. Scotiabank decreased their price target on shares of Parex Resources from C$28.00 to C$27.00 and set a “sector perform” rating for the company in a research note on Friday, March 1st. Stifel Nicolaus decreased their target price on Parex Resources from C$32.75 to C$31.00 and set a “buy” rating for the company in a research report on Monday, March 4th. TD Securities dropped their price target on Parex Resources from C$28.70 to C$27.20 in a research report on Tuesday, January 16th. Finally, Royal Bank of Canada reduced their price target on Parex Resources from C$32.00 to C$28.00 and set an “outperform” rating on the stock in a research note on Friday, March 1st.

Parex Resources Price Performance

The stock has a market capitalization of C$2.45 billion, a PE ratio of 4.04, a price-to-earnings-growth ratio of 0.21 and a beta of 1.62. The company has a current ratio of 1.31, a quick ratio of 1.45 and a debt-to-equity ratio of 4.93. The firm has a 50 day moving average price of C$21.75 and a 200 day moving average price of C$23.85.

Parex Resources (TSE:PXT) last posted its quarterly earnings data on Thursday, February 29th. The company reported C$1.74 EPS for the quarter, topping the consensus estimate of C$1.42 by C$0.32. The firm had revenue of C$508.73 million for the quarter. Parex Resources had a return on equity of 25.03% and a net margin of 39.26%. Research analysts anticipate that Parex Resources Inc. will post 5.6354916 earnings per share for the current year.

Parex Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a $0.375 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 6.32%. Parex Resources’s payout ratio is currently 25.55%.

Insider Activity

In other Parex Resources news, Senior Officer Imad Mohsen purchased 9,500 shares of the business’s stock in a transaction on Monday, March 18th. The stock was acquired at an average price of C$21.10 per share, for a total transaction of C$200,450.00. Insiders own 1.61% of the company’s stock.

About Parex Resources

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.