Parex Resources (TSE:PXT) Insider Purchases C$499,792.50 in Stock

Parex Resources Inc. (TSE:PXT) insider Imad Mohsen purchased 24,250 shares of the stock in a transaction on Tuesday, July 7th. The shares were purchased at an average cost of C$20.61 per share, for a total transaction of C$499,792.50. Following the acquisition, the insider directly owned 165,410 shares of the company’s stock, valued at approximately C$3,409,100.10. This represents a 17.18% increase in their ownership of the stock.

Imad Mohsen also recently made the following trade(s):

• On Thursday, May 14th, Imad Mohsen purchased 14,600 shares of Parex Resources stock. The stock was purchased at an average price of C$27.37 per share, with a total value of C$399,602.00.

Parex Resources Stock Performance

Shares of TSE PXT opened at C$22.26 on Friday. The firm has a fifty day moving average price of C$25.26 and a 200-day moving average price of C$23.48. The company has a debt-to-equity ratio of 9.51, a current ratio of 1.49 and a quick ratio of 1.45. The stock has a market cap of C$2.14 billion, a PE ratio of 12.03, a price-to-earnings-growth ratio of 0.21 and a beta of 0.19. Parex Resources Inc. has a 1 year low of C$14.12 and a 1 year high of C$30.20.

Parex Resources (TSE:PXT) last announced its quarterly earnings data on Tuesday, May 12th. The company reported C$0.07 EPS for the quarter. Parex Resources had a net margin of 19.59% and a return on equity of 9.34%. The firm had revenue of C$284.35 million for the quarter.

Analysts Set New Price Targets

Several brokerages have recently commented on PXT. Scotiabank boosted their price objective on Parex Resources from C$20.00 to C$29.00 and gave the company a “sector perform” rating in a research report on Monday, June 22nd. Royal Bank Of Canada increased their target price on Parex Resources from C$28.00 to C$32.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 8th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Parex Resources presently has an average rating of “Moderate Buy” and a consensus target price of C$25.10.

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.