Parex Resources Inc. (TSE:PXT) Senior Officer Buys C$174,623.00 in Stock

Parex Resources Inc. (TSE:PXT) Senior Officer Imad Mohsen bought 13,100 shares of the stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average cost of C$13.33 per share, with a total value of C$174,623.00.

Parex Resources Trading Down 1.0 %

PXT opened at C$13.23 on Friday. The company has a quick ratio of 1.45, a current ratio of 1.14 and a debt-to-equity ratio of 2.90. The company has a fifty day moving average of C$18.81 and a 200-day moving average of C$21.11. Parex Resources Inc. has a twelve month low of C$11.33 and a twelve month high of C$28.23. The stock has a market cap of C$1.34 billion, a PE ratio of 3.27, a price-to-earnings-growth ratio of 0.21 and a beta of 1.45.

Parex Resources (TSE:PXT) last announced its earnings results on Wednesday, July 31st. The company reported C$0.05 EPS for the quarter. The company had revenue of C$499.23 million for the quarter. Parex Resources had a return on equity of 17.02% and a net margin of 26.15%. On average, sell-side analysts predict that Parex Resources Inc. will post 2.5941176 EPS for the current year.

Parex Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 16th will be paid a $0.385 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $1.54 annualized dividend and a dividend yield of 11.64%. Parex Resources’s dividend payout ratio is currently 38.02%.

Analyst Upgrades and Downgrades

PXT has been the subject of several recent research reports. Cormark lowered their price objective on Parex Resources from C$33.00 to C$30.00 in a research note on Thursday, August 1st. Eight Capital cut shares of Parex Resources from a “buy” rating to a “neutral” rating and decreased their price target for the company from C$32.50 to C$16.00 in a research report on Friday, August 30th. Jefferies Financial Group dropped their price target on shares of Parex Resources from C$23.80 to C$19.50 in a research note on Thursday, August 29th. Haywood Securities reduced their price objective on shares of Parex Resources from C$33.00 to C$25.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Finally, Scotiabank lowered their target price on Parex Resources from C$23.00 to C$19.00 and set a “sector perform” rating for the company in a research report on Friday, August 30th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of C$25.27.

About Parex Resources

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.