Parex Resources (TSE:PXT) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Parex Resources Inc. (TSE:PXT) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$14.21 and traded as high as C$14.35. Parex Resources shares last traded at C$14.10, with a volume of 822,890 shares trading hands.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets raised their target price on shares of Parex Resources from C$14.00 to C$16.00 in a report on Wednesday, January 15th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of C$21.44.

Parex Resources Stock Down 1.5 %

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 company has a market cap of C$989.17 million, a price-to-earnings ratio of 3.86, a price-to-earnings-growth ratio of 0.21 and a beta of 1.43. The business has a 50-day simple moving average of C$14.38 and a 200-day simple moving average of C$14.18.

Parex Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 16th were given a dividend of $0.385 per share. This represents a $1.54 annualized dividend and a dividend yield of 10.92%. The ex-dividend date was Monday, December 9th. Parex Resources’s dividend payout ratio (DPR) is presently 42.12%.

Insider Activity at Parex Resources

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

Parex Resources Company Profile

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.