Parex Resources Inc. (OTCMKTS:PARXF) Short Interest Up 133.2% in May

Parex Resources Inc. (OTCMKTS:PARXFGet Rating) was the recipient of a large increase in short interest in the month of May. As of May 15th, there was short interest totalling 1,792,000 shares, an increase of 133.2% from the April 30th total of 768,500 shares. Based on an average trading volume of 21,600 shares, the short-interest ratio is presently 83.0 days.

Shares of PARXF opened at $20.96 on Friday. The stock has a 50-day moving average of $20.33 and a 200-day moving average of $19.60. Parex Resources has a one year low of $13.71 and a one year high of $23.57.

PARXF has been the subject of a number of recent analyst reports. BMO Capital Markets increased their price target on Parex Resources from C$34.00 to C$36.00 in a report on Thursday, February 3rd. Scotiabank raised their target price on Parex Resources from C$36.00 to C$37.00 in a research note on Monday, April 18th. Royal Bank of Canada raised their target price on Parex Resources from C$32.00 to C$34.00 in a research note on Friday, February 4th. Finally, Stifel Nicolaus raised their target price on Parex Resources from C$40.00 to C$42.00 in a research note on Thursday, May 12th.

About Parex Resources (Get Rating)

Parex Resources Inc engages in the exploration, development, production of oil and natural gas in Colombia. The company holds interests in onshore exploration and production blocks totaling approximately 6,521,632 gross acres. As of December 31, 2021, it had proved plus probable reserves of 198,825 million barrels of oil equivalent.

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