Parex Resources (TSE:PXT) Price Target Lowered to C$23.80 at Jefferies Financial Group

Parex Resources (TSE:PXT) had its price target reduced by stock analysts at Jefferies Financial Group from C$27.20 to C$23.80 in a note issued to investors on Thursday, BayStreet.CA reports. Jefferies Financial Group’s target price would indicate a potential upside of 28.37% from the company’s previous close.

Parex Resources Trading Down 10.5 %

PXT stock traded down C$2.17 during trading on Thursday, reaching C$18.54. The company had a trading volume of 1,859,492 shares, compared to its average volume of 534,110. The business has a 50 day moving average of C$21.60 and a 200 day moving average of C$22.12. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.25 and a quick ratio of 1.45. The company has a market cap of C$1.89 billion, a P/E ratio of 3.43, a PEG ratio of 0.21 and a beta of 1.56. Parex Resources has a 52 week low of C$18.36 and a 52 week high of C$28.76.

Parex Resources (TSE:PXT) last issued its quarterly earnings results on Wednesday, May 8th. The company reported C$0.78 earnings per share for the quarter, missing the consensus estimate of C$1.03 by C($0.25). The firm had revenue of C$382.38 million during the quarter. Parex Resources had a return on equity of 22.25% and a net margin of 35.11%. As a group, sell-side analysts forecast that Parex Resources will post 5.2746479 earnings per share for the current fiscal year.

Insider Activity at Parex Resources

In related news, Director Robert John Engbloom bought 10,000 shares of the stock in a transaction on Friday, May 17th. The shares were acquired at an average price of C$23.22 per share, for a total transaction of C$232,200.00. 1.54% of the stock is currently owned by insiders.

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.