Parex Resources (TSE:PXT) Price Target Raised to C$20.00

Parex Resources (TSE:PXT) had its target price upped by Royal Bank Of Canada from C$18.00 to C$20.00 in a research report report published on Monday,BayStreet.CA reports. They currently have a sector perform rating on the stock.

A number of other equities analysts have also weighed in on the stock. Scotiabank lifted their price target on shares of Parex Resources from C$16.00 to C$17.00 and gave the company a “sector perform” rating in a report on Thursday, July 31st. BMO Capital Markets upgraded shares of Parex Resources from a “hold” rating to an “outperform” rating and lifted their target price for the company from C$16.00 to C$20.00 in a report on Monday, September 15th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of C$19.00.

Parex Resources Stock Up 0.7%

Shares of PXT opened at C$18.31 on Monday. The firm has a market cap of C$1.80 billion, a PE ratio of 13.98, a price-to-earnings-growth ratio of 0.21 and a beta of 0.47. The company’s fifty day moving average is C$17.09 and its two-hundred day moving average is C$14.53. Parex Resources has a fifty-two week low of C$10.30 and a fifty-two week high of C$19.81. The company has a quick ratio of 1.45, a current ratio of 1.18 and a debt-to-equity ratio of 1.81.

Parex Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 15th were given a $0.385 dividend. This represents a $1.54 annualized dividend and a dividend yield of 8.4%. The ex-dividend date was Monday, September 8th. Parex Resources’s dividend payout ratio is 84.24%.

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.