Parex Resources (TSE:PXT) Director Acquires C$151,950.00 in Stock

Parex Resources Inc. (TSE:PXT) Director Glenn Mcnamara purchased 7,500 shares of the business’s stock in a transaction dated Monday, November 9th. The shares were purchased at an average cost of C$20.26 per share, for a total transaction of C$151,950.00. Following the purchase, the director directly owned 29,998 shares of the company’s stock, valued at C$607,759.48. This trade represents a 33.34% increase in their ownership of the stock.

Parex Resources Stock Up 5.3%

Shares of TSE PXT opened at C$20.70 on Thursday. Parex Resources Inc. has a 1 year low of C$17.12 and a 1 year high of C$30.44. The firm’s 50-day moving average is C$27.23 and its 200-day moving average is C$25.34. The company has a current ratio of 0.88, a quick ratio of 1.45 and a debt-to-equity ratio of 34.66. The firm has a market capitalization of C$1.99 billion, a PE ratio of 3.48, a price-to-earnings-growth ratio of 0.21 and a beta of 0.25.

Parex Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 15th were given a dividend of $0.3850 per share. The ex-dividend date was Tuesday, September 8th. This represents a $1.54 annualized dividend and a dividend yield of 7.4%. Parex Resources’s payout ratio is presently 18.57%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PXT. ATB Cormark Capital Markets set a C$35.00 price target on Parex Resources and gave the company an “outperform” rating in a research note on Monday, October 26th. Scotiabank raised 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 report on Thursday, August 13th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$28.30.

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.