Parex Resources Inc. (TSE:PXT) Senior Officer Purchases C$251,797.50 in Stock

Parex Resources Inc. (TSE:PXT) Senior Officer Imad Mohsen acquired 23,250 shares of the stock in a transaction that occurred on Friday, April 11th. The stock was purchased at an average price of C$10.83 per share, for a total transaction of C$251,797.50.

Parex Resources Price Performance

PXT stock opened at C$11.09 on Monday. Parex Resources Inc. has a 1 year low of C$10.30 and a 1 year high of C$24.88. The firm has a market capitalization of C$778.01 million, a PE ratio of 3.03, a price-to-earnings-growth ratio of 0.21 and a beta of 1.43. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.18 and a quick ratio of 1.45. The business has a 50 day simple moving average of C$13.30 and a 200-day simple moving average of C$13.69.

Parex Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 18th were paid a $0.385 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $1.54 annualized dividend and a dividend yield of 13.89%. Parex Resources’s dividend payout ratio (DPR) is 42.12%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PXT. Royal Bank of Canada lifted their price target on Parex Resources from C$15.00 to C$16.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 6th. BMO Capital Markets lifted their target price on shares of Parex Resources from C$14.00 to C$16.00 in a research note on Wednesday, January 15th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Parex Resources has a consensus rating of “Hold” and an average target price of C$20.21.

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.