BMO Capital Markets Analysts Give Parex Resources (TSE:PXT) a C$13.00 Price Target

BMO Capital Markets set a C$13.00 price objective on Parex Resources (TSE:PXT) in a report issued on Thursday, BayStreet.CA reports. The brokerage currently has a market perform rating on the stock.

A number of other equities research analysts also recently weighed in on the stock. Cormark reduced their price target on shares of Parex Resources from C$33.00 to C$30.00 in a research note on Thursday, August 1st. Eight Capital downgraded shares of Parex Resources from a buy rating to a neutral rating and reduced their price target for the company from C$32.50 to C$16.00 in a research note on Friday, August 30th. Haywood Securities reduced their price target on shares of Parex Resources from C$33.00 to C$25.00 and set a buy rating on the stock in a research note on Friday, August 30th. Royal Bank of Canada reduced their price target on shares of Parex Resources from C$17.00 to C$15.00 in a research note on Tuesday, September 17th. Finally, Jefferies Financial Group reduced their price target on shares of Parex Resources from C$23.80 to C$19.50 in a research note on Thursday, August 29th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Parex Resources has a consensus rating of Hold and an average price target of C$22.97.

Parex Resources Price Performance

PXT stock opened at C$12.01 on Thursday. The company has a quick ratio of 1.45, a current ratio of 1.14 and a debt-to-equity ratio of 2.90. Parex Resources has a 12 month low of C$11.33 and a 12 month high of C$28.23. The firm has a market cap of C$1.22 billion, a P/E ratio of 2.85, a P/E/G ratio of 0.21 and a beta of 1.45. The company’s 50-day moving average price is C$16.79 and its two-hundred day moving average price is C$20.42.

Parex Resources (TSE:PXT) last released its earnings results on Wednesday, July 31st. The company reported C$0.05 EPS for the quarter. Parex Resources had a net margin of 26.15% and a return on equity of 17.02%. The firm had revenue of C$499.23 million for the quarter. On average, analysts anticipate that Parex Resources will post 2.6732456 earnings per share for the current fiscal year.

Parex Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 16th were given a dividend of $0.385 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $1.54 annualized dividend and a yield of 12.82%. Parex Resources’s dividend payout ratio is presently 36.49%.

Insider Transactions at Parex Resources

In other news, Senior Officer Wayne Kim Foo purchased 4,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were purchased at an average price of C$13.05 per share, for a total transaction of C$52,200.00. In related news, Director Sigmund Cornelius acquired 7,500 shares of the stock in a transaction dated Wednesday, September 4th. The stock was bought at an average price of C$13.16 per share, for a total transaction of C$98,718.75. Also, Senior Officer Wayne Kim Foo acquired 4,000 shares of the stock in a transaction dated Friday, August 30th. The stock was bought at an average price of C$13.05 per share, with a total value of C$52,200.00. In the last 90 days, insiders have bought 54,804 shares of company stock worth $705,285. Company insiders own 1.64% of the company’s stock.

Parex Resources Company Profile

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.