Parex Resources (TSE:PXT) Stock Passes Above Two Hundred Day Moving Average – What’s Next?

Shares of Parex Resources Inc. (TSE:PXT) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$14.21 and traded as high as C$14.35. Parex Resources shares last traded at C$14.10, with a volume of 822,890 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets lifted their price objective on Parex Resources from C$14.00 to C$16.00 in a report on Wednesday, January 15th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of C$21.44.

Parex Resources Trading Down 1.5 %

The company has a debt-to-equity ratio of 1.81, a current ratio of 1.18 and a quick ratio of 1.45. The stock has a market capitalization of C$989.17 million, a price-to-earnings ratio of 3.86, a PEG ratio of 0.21 and a beta of 1.43. The business has a 50 day simple moving average of C$14.38 and a 200-day simple moving average of C$14.18.

Parex Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 16th were paid a $0.385 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $1.54 dividend on an annualized basis and a yield of 10.92%. Parex Resources’s payout ratio is 42.12%.

Insider Transactions at Parex Resources

In other news, Senior Officer Cam Grainger acquired 13,500 shares of Parex Resources stock in a transaction dated Thursday, December 12th. The stock was bought at an average cost of C$13.45 per share, with a total value of C$181,575.00. 1.64% of the stock is owned by insiders.

Parex Resources Company Profile

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.