Glenn Mcnamara Purchases 7,200 Shares of Parex Resources Inc. (TSE:PXT) Stock

Parex Resources Inc. (TSE:PXT) Director Glenn Mcnamara acquired 7,200 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were purchased at an average cost of C$13.08 per share, with a total value of C$94,140.00.

Parex Resources Price Performance

Parex Resources Inc. has a 52-week low of C$11.33 and a 52-week high of C$28.23. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.14 and a quick ratio of 1.45. The firm has a 50-day moving average of C$17.88 and a 200-day moving average of C$20.81. The firm has a market cap of C$1.20 billion, a PE ratio of 2.93, a PEG ratio of 0.21 and a beta of 1.45.

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

Parex Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 16th will be paid a $0.385 dividend. This represents a $1.54 annualized dividend and a dividend yield of ∞. The ex-dividend date of this dividend is Monday, September 9th. Parex Resources’s dividend payout ratio (DPR) is 38.02%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PXT. Scotiabank decreased their price target on Parex Resources from C$23.00 to C$19.00 and set a “sector perform” rating for the company in a report on Friday, August 30th. Jefferies Financial Group dropped their price objective on Parex Resources from C$23.80 to C$19.50 in a report on Thursday, August 29th. Haywood Securities reduced their target price on Parex Resources from C$33.00 to C$25.00 and set a “buy” rating for the company in a report on Friday, August 30th. Cormark dropped their price target on Parex Resources from C$33.00 to C$30.00 in a research note on Thursday, August 1st. Finally, Eight Capital cut Parex Resources from a “buy” rating to a “neutral” rating and reduced their price objective for the company from C$32.50 to C$16.00 in a research note on Friday, August 30th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average 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.