Parex Resources (TSE:PXT) Insider Imad Mohsen Purchases 24,250 Shares of Stock

Parex Resources Inc. (TSE:PXT) insider Imad Mohsen acquired 24,250 shares of the firm’s stock in a transaction dated 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 in the company, valued at C$3,409,100.10. This represents a 17.18% increase in their position.

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

• On Thursday, May 14th, Imad Mohsen bought 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$21.10 on Wednesday. The firm has a market capitalization of C$2.03 billion, a price-to-earnings ratio of 11.41, a PEG ratio of 0.21 and a beta of 0.19. Parex Resources Inc. has a one year low of C$14.08 and a one year high of C$30.20. The business has a fifty day simple moving average of C$25.48 and a 200 day simple moving average of C$23.41. The company has a current ratio of 1.49, a quick ratio of 1.45 and a debt-to-equity ratio of 9.51.

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

Wall Street Analyst Weigh In

PXT has been the subject of several recent research reports. Royal Bank Of Canada increased their price target on shares of 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. Scotiabank lifted their price objective on Parex Resources from C$20.00 to C$29.00 and gave the company a “sector perform” rating in a report on Monday, June 22nd. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Parex Resources presently has a consensus rating of “Moderate Buy” and a consensus target price of C$25.10.

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. Parex depends on a team of geologists and geophysicists, in partnership with technologies such as 3D seismic surveying, to help exploration efforts.