Parex Resources (OTCMKTS:PARXF) Stock Jumps 4.7% – Should You Buy?

Parex Resources Inc. (OTCMKTS:PARXF)’s stock price was up 4.7% during mid-day trading on Thursday. The company traded as high as $20.22 and last traded at $20.08. 230,336 shares traded hands during trading, an increase of 132% from the average daily volume of 99,218 shares. The stock had previously closed at $19.1860.

Analysts Set New Price Targets

Separately, Scotiabank reissued a “sector perform” rating on shares of Parex Resources in a report on Thursday, August 13th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy”.

Parex Resources Stock Up 4.7%

The company has a fifty day moving average of $19.53 and a 200-day moving average of $18.65.

About Parex Resources

Parex Resources Inc is a Canadian oil and gas exploration and production company focused on conventional hydrocarbons. The company’s primary activities include identifying prospective assets, acquiring and developing oil and natural gas properties, and producing and selling crude oil and related products.

Parex’s operations are concentrated in Colombia, where it has historically maintained a portfolio of exploration and production assets, particularly in the Llanos Basin and other onshore regions.