Parex Resources (OTCMKTS:PARXF) Shares Down 1.2% – Time to Sell?

Parex Resources Inc. (OTCMKTS:PARXF) dropped 1.2% on Friday . The stock traded as low as $13.0750 and last traded at $13.0750. Approximately 2,655 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 52,617 shares. The stock had previously closed at $13.23.

Analyst Ratings Changes

Several research firms have recently commented on PARXF. BMO Capital Markets raised shares of Parex Resources to an “outperform” rating in a research note on Monday, September 15th. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Parex Resources in a report on Monday, September 29th. Scotiabank restated a “sector perform” rating on shares of Parex Resources in a research note on Thursday, October 9th. Finally, Roth Capital initiated coverage on Parex Resources in a research report on Friday, December 12th. They set a “buy” rating on the stock. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy”.

Parex Resources Trading Down 1.2%

The firm’s 50-day moving average price is $13.11 and its two-hundred day moving average price is $12.29.

About Parex Resources

Parex Resources Inc is a Canada-based exploration and production company primarily engaged in the acquisition, development and production of oil resources. The company holds a portfolio of prolific onshore blocks in Colombia, targeting both light and medium crude oil. Parex employs a strategic exploration approach, integrating seismic studies and advanced drilling techniques to optimize reservoir development and enhance recovery rates.

Headquartered in Calgary, Alberta, Parex has focused its operations on Colombia’s Llanos Basin and the Caguan and Putumayo basins.