Parex Resources (OTCMKTS:PARXF) Stock Jumps 4.7% – What’s Next?

Parex Resources Inc. (OTCMKTS:PARXF)’s stock price was up 4.7% during trading on Thursday. The stock traded as high as $20.22 and last traded at $20.08. 230,336 shares traded hands during mid-day trading, an increase of 132% from the average session volume of 99,218 shares. The stock had previously closed at $19.1860.

Wall Street Analysts Forecast Growth

Separately, Scotiabank reissued a “sector perform” rating on shares of Parex Resources in a research report on Thursday, August 13th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

Parex Resources Trading Down 4.9%

The business has a fifty day moving average price of $19.56 and a 200-day moving average price of $18.65.

Parex Resources Company Profile

Parex Resources Inc is a Canadian oil and gas exploration and production company focused on conventional hydrocarbons. The company’s primary activities include identifying prospective assets, acquiring and developing oil and natural gas properties, and producing and selling crude oil and related products.

Parex’s operations are concentrated in Colombia, where it has historically maintained a portfolio of exploration and production assets, particularly in the Llanos Basin and other onshore regions.