Insider Selling: Parex Resources Inc (TSE:PXT) Director Sells C$2,152,000.00 in Stock

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Parex Resources Inc (TSE:PXT) Director Curtis Darrell Bartlett sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of C$21.52, for a total value of C$2,152,000.00. Following the transaction, the director now owns 900,000 shares of the company’s stock, valued at approximately C$19,368,000.

Shares of Parex Resources stock opened at C$21.60 on Wednesday. The stock has a market capitalization of $3.17 billion and a price-to-earnings ratio of 8.27. The firm’s 50-day moving average price is C$20.90. The company has a current ratio of 1.48, a quick ratio of 1.22 and a debt-to-equity ratio of 0.16. Parex Resources Inc has a twelve month low of C$13.62 and a twelve month high of C$26.78.

Parex Resources (TSE:PXT) last issued its quarterly earnings data on Tuesday, May 7th. The company reported C$0.70 earnings per share for the quarter. The firm had revenue of C$327.86 million for the quarter. Sell-side analysts forecast that Parex Resources Inc will post 2.5900001 earnings per share for the current fiscal year.

A number of brokerages have recently weighed in on PXT. Cormark raised their price objective on Parex Resources from C$32.50 to C$35.00 in a research report on Tuesday, July 9th. Eight Capital raised their price objective on Parex Resources from C$34.00 to C$34.50 in a research report on Tuesday, June 11th.

Parex Resources Company Profile

Parex Resources Inc engages in the exploration, development, production, and marketing of oil and natural gas in Colombia. The company holds interests in onshore exploration and production blocks totaling approximately 2,037,753 gross acres. As of December 31, 2018, it had proved plus probable reserves of 184.674 million barrels of oil equivalent.

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