Parex Resources (TSE:PXT) Director Acquires C$99,200.00 in Stock

Parex Resources Inc. (TSE:PXT) Director Sigmund Cornelius bought 5,000 shares of the firm’s stock in a transaction on Monday, November 9th. The shares were acquired at an average cost of C$19.84 per share, with a total value of C$99,200.00. Following the purchase, the director directly owned 57,916 shares of the company’s stock, valued at approximately C$1,149,053.44. This represents a 9.45% increase in their position.

Parex Resources Price Performance

Shares of TSE PXT remained flat at C$19.81 during trading on Monday. The stock had a trading volume of 2,295,767 shares, compared to its average volume of 886,219. Parex Resources Inc. has a 52-week low of C$17.12 and a 52-week high of C$30.44. The stock has a market cap of C$1.91 billion, a PE ratio of 3.33, a PEG ratio of 0.21 and a beta of 0.25. The business’s 50-day moving average is C$27.59 and its 200-day moving average is C$25.33. The company has a debt-to-equity ratio of 34.66, a quick ratio of 1.45 and a current ratio of 0.88.

Parex Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 15th were given a dividend of $0.3850 per share. This represents a $1.54 annualized dividend and a yield of 7.8%. The ex-dividend date was Tuesday, September 8th. Parex Resources’s payout ratio is 18.57%.

Analyst Ratings Changes

A number of research firms recently weighed in on PXT. ATB Cormark Capital Markets set a C$35.00 target price on shares of Parex Resources and gave the company an “outperform” rating in a research note on Monday, October 26th. Scotiabank increased their price target on Parex Resources from C$29.00 to C$30.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 13th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Parex Resources currently has a consensus rating of “Moderate Buy” and a consensus target price of C$28.30.

Trending Headlines about Parex Resources

Here are the key news stories impacting Parex Resources this week:

• Positive Sentiment: Two directors and insider Imad Mohsen reported buying Parex shares on November 9. The largest disclosed purchases were 24,870 shares by Mohsen for about C$499,141 and a combined 12,500 shares by the two directors for about C$251,150. Insider buying can be a positive confidence signal. Insider transactions
• Negative Sentiment: A report said Parex shares had fallen 16.8%, indicating significant recent selling pressure. The headline does not provide a reason for the decline or further details on what investors may expect next. Parex Resources Stock Price Down 16.8% – What’s Next?

About Parex Resources

Parex is the largest independent oil and gas company in Colombia, focusing on sustainable conventional production. The Company’s corporate headquarters are in Calgary, Canada, with an operating office in Bogota, Colombia.