Parex Resources Inc. (PXT) To Go Ex-Dividend on March 18th

Parex Resources Inc. (TSE:PXT) declared a quarterly dividend on Wednesday, March 18th, TickerTech Dividends reports. Investors of record on Wednesday, March 25th will be given a dividend of 0.385 per share on Wednesday, March 25th. This represents a c) dividend on an annualized basis and a yield of 5.9%. The ex-dividend date is Wednesday, March 18th.

Parex Resources Stock Performance

TSE PXT opened at C$26.08 on Monday. The firm has a 50-day moving average price of C$20.78 and a two-hundred day moving average price of C$19.11. Parex Resources has a 12-month low of C$10.30 and a 12-month high of C$26.33. The company has a market capitalization of C$2.50 billion, a P/E ratio of 9.95, a P/E/G ratio of 0.21 and a beta of 0.63. The company has a quick ratio of 1.45, a current ratio of 1.11 and a debt-to-equity ratio of 2.16.

Parex Resources (TSE:PXT) last announced its earnings results on Wednesday, March 4th. The company reported C$0.43 EPS for the quarter. Parex Resources had a net margin of 26.85% and a return on equity of 13.39%. The company had revenue of C$223.53 million for the quarter.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on PXT shares. Royal Bank Of Canada increased their price target on Parex Resources from C$23.00 to C$28.00 and gave the stock a “sector perform” rating in a research report on Friday. Roth Mkm set a C$24.00 price objective on Parex Resources and gave the company a “buy” rating in a report on Friday, December 12th. Finally, Jefferies Financial Group upped their target price on Parex Resources from C$18.00 to C$20.50 in a research report on Monday, December 15th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$22.50.

Parex Resources Company Profile

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. Parex depends on a team of geologists and geophysicists, in partnership with technologies such as 3D seismic surveying, to help exploration efforts.