Parex Resources (TSE:PXT) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Parex Resources Inc. (TSE:PXT)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$14.36 and traded as high as C$15.12. Parex Resources shares last traded at C$15.02, with a volume of 351,905 shares trading hands.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets lifted their price objective on Parex Resources from C$14.00 to C$16.00 in a report on Wednesday, January 15th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of C$21.44.

Parex Resources Stock Up 2.9 %

The stock has a market cap of C$1.05 billion, a price-to-earnings ratio of 4.11, a PEG ratio of 0.21 and a beta of 1.43. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.45 and a current ratio of 1.18. The firm’s 50-day simple moving average is C$14.21 and its two-hundred day simple moving average is C$14.36.

Parex Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 16th were given a $0.385 dividend. This represents a $1.54 annualized dividend and a yield of 10.25%. The ex-dividend date of this dividend was Monday, December 9th. Parex Resources’s dividend payout ratio (DPR) is presently 42.12%.

Insiders Place Their Bets

In other Parex Resources news, Senior Officer Cam Grainger bought 13,500 shares of Parex Resources stock in a transaction dated Thursday, December 12th. The shares were bought at an average price of C$13.45 per share, with a total value of C$181,575.00. Company insiders own 1.64% of the company’s stock.

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.