Parex Resources Inc. (TSE:PXT – Get Free Report) insider Cam Grainger acquired 2,000 shares of Parex Resources stock in a transaction dated Monday, August 24th. The stock was bought at an average price of C$27.40 per share, with a total value of C$54,800.00. Following the completion of the purchase, the insider directly owned 43,584 shares in the company, valued at C$1,194,201.60. This represents a 4.81% increase in their ownership of the stock.
Parex Resources Stock Performance
TSE PXT traded down C$0.67 on Monday, hitting C$27.43. 201,442 shares of the company traded hands, compared to its average volume of 910,183. The business’s 50 day moving average price is C$23.89 and its 200-day moving average price is C$24.71. Parex Resources Inc. has a 52-week low of C$16.25 and a 52-week high of C$30.20. The company has a current ratio of 0.88, a quick ratio of 1.45 and a debt-to-equity ratio of 34.66. The company has a market capitalization of C$2.64 billion, a price-to-earnings ratio of 4.61, a P/E/G ratio of 0.21 and a beta of 0.18.
Wall Street Analyst Weigh In
Separately, Scotiabank lifted their price target on shares of Parex Resources from C$29.00 to C$30.00 and gave the company a “sector perform” rating in a report on Thursday, August 13th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$25.30.
About Parex Resources
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.
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