Cormark Increases Parex Resources Inc. (PXT.TO) (TSE:PXT) Price Target to C$30.00

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Parex Resources Inc. (PXT.TO) (TSE:PXT) had its target price boosted by equities researchers at Cormark from C$25.00 to C$30.00 in a note issued to investors on Tuesday, Anlyst Ratings reports. Cormark’s price objective suggests a potential upside of 46.27% from the stock’s previous close.

A number of other equities analysts have also recently commented on PXT. National Bank Financial dropped their target price on Parex Resources Inc. (PXT.TO) from C$23.00 to C$19.00 and set an “outperform” rating for the company in a report on Monday, November 16th. CIBC lifted their target price on Parex Resources Inc. (PXT.TO) from C$22.00 to C$25.00 in a report on Wednesday, December 16th.

TSE PXT opened at C$20.51 on Tuesday. The stock has a market capitalization of C$2.68 billion and a PE ratio of 22.54. The business has a 50 day simple moving average of C$18.56 and a two-hundred day simple moving average of C$16.64. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.66 and a quick ratio of 4.53. Parex Resources Inc. has a 1-year low of C$0.02 and a 1-year high of C$24.40.

Parex Resources Inc. (PXT.TO) (TSE:PXT) last released its quarterly earnings results on Wednesday, November 4th. The company reported C$0.26 earnings per share for the quarter, missing the consensus estimate of C$0.33 by C($0.07). The business had revenue of C$178.80 million during the quarter. On average, analysts anticipate that Parex Resources Inc. will post 1.5600001 EPS for the current fiscal year.

In related news, Senior Officer Leo Nicholas Distefano sold 40,014 shares of the business’s stock in a transaction on Monday, October 19th. The stock was sold at an average price of C$14.38, for a total transaction of C$575,401.32. Following the completion of the transaction, the insider now owns 183,955 shares in the company, valued at approximately C$2,645,272.90.

About Parex Resources Inc. (PXT.TO)

Parex Resources Inc engages in the exploration, development, production, and marketing of oil and natural gas in Colombia. The company holds interests in onshore exploration and production blocks totaling approximately 2.7 million gross acres. As of December 31, 2019, it had proved plus probable reserves of 198.423 million barrels of oil equivalent.

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