Sigmund Cornelius Acquires 10,000 Shares of Parex Resources Inc. (TSE:PXT) Stock

Parex Resources Inc. (TSE:PXT) Director Sigmund Cornelius purchased 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was bought at an average price of C$12.10 per share, with a total value of C$121,040.00.

Sigmund Cornelius also recently made the following trade(s):

• On Wednesday, September 4th, Sigmund Cornelius acquired 7,500 shares of Parex Resources stock. The shares were purchased at an average price of C$13.16 per share, for a total transaction of C$98,718.75.

Parex Resources Stock Down 0.2 %

TSE:PXT opened at C$12.03 on Friday. Parex Resources Inc. has a fifty-two week low of C$11.33 and a fifty-two week high of C$28.23. The company’s 50-day simple moving average is C$18.07 and its 200-day simple moving average is C$20.87. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.45 and a current ratio of 1.14. The stock has a market capitalization of C$1.22 billion, a P/E ratio of 2.97, a P/E/G ratio of 0.21 and a beta of 1.45.

Parex Resources (TSE:PXT) last issued its quarterly earnings data on Wednesday, July 31st. The company reported C$0.05 EPS for the quarter. Parex Resources had a return on equity of 17.02% and a net margin of 26.15%. The firm had revenue of C$499.23 million during the quarter. On average, equities analysts anticipate that Parex Resources Inc. will post 2.5941176 earnings per share for the current fiscal year.

Parex Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.385 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $1.54 annualized dividend and a dividend yield of 12.80%. Parex Resources’s dividend payout ratio is presently 38.02%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PXT. Jefferies Financial Group cut their target price on Parex Resources from C$23.80 to C$19.50 in a research note on Thursday, August 29th. Royal Bank of Canada downgraded Parex Resources from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from C$23.00 to C$17.00 in a research report on Thursday, August 29th. Scotiabank reduced their price target on shares of Parex Resources from C$23.00 to C$19.00 and set a “sector perform” rating on the stock in a research note on Friday, August 30th. Haywood Securities lowered their price objective on shares of Parex Resources from C$33.00 to C$25.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Finally, Cormark reduced their target price on shares of Parex Resources from C$33.00 to C$30.00 in a research report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Parex Resources presently has a consensus rating of “Hold” and a consensus target price of C$25.27.

Parex Resources Company Profile

Parex Resources Inc engages in the exploration, development, production, and marketing of oil and natural gas in Colombia. The company's principal land holdings and exploration blocks are in Colombia Llanos and Magdalena Basin. It has 55% working interest in Block LLA-34; 100% working interest in Cabrestero Block; and 50% working interest in Capachos Block and Block VIM-1.