Parex Resources (TSE:PXT) Shares Cross Above 200 Day Moving Average – Should You Sell?

Shares of Parex Resources Inc. (TSE:PXT) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$17.10 and traded as high as C$18.62. Parex Resources shares last traded at C$18.43, with a volume of 467,480 shares traded.

Analyst Ratings Changes

Several research firms have recently weighed in on PXT. Roth Capital set a C$24.00 price target on Parex Resources and gave the company a “buy” rating in a report on Friday, December 12th. Royal Bank Of Canada raised their price objective on Parex Resources from C$20.00 to C$21.00 and gave the stock a “sector perform” rating in a research note on Tuesday, October 7th. Jefferies Financial Group upped their target price on shares of Parex Resources from C$18.00 to C$20.50 in a report on Monday, December 15th. BMO Capital Markets upgraded Parex Resources from a “hold” rating to an “outperform” rating and increased their price target for the stock from C$16.00 to C$20.00 in a research note on Monday, September 15th. Finally, Scotiabank boosted their price objective on Parex Resources from C$17.00 to C$20.00 and gave the company a “sector perform” rating in a research report on Thursday, October 9th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$21.10.

Parex Resources Price Performance

The company has a current ratio of 1.18, a quick ratio of 1.45 and a debt-to-equity ratio of 1.81. The firm’s 50-day moving average price is C$18.31 and its 200-day moving average price is C$17.11. The stock has a market capitalization of C$1.80 billion, a PE ratio of 15.64, a PEG ratio of 0.21 and a beta of 0.61.

Parex Resources (TSE:PXT) last issued its quarterly earnings data on Tuesday, November 4th. The company reported C$0.52 earnings per share (EPS) for the quarter. The business had revenue of C$311.63 million for the quarter. Parex Resources had a return on equity of 13.52% and a net margin of 19.08%.

Parex Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 15th were given a $0.385 dividend. The ex-dividend date was Monday, December 8th. This represents a $1.54 dividend on an annualized basis and a yield of 8.3%. Parex Resources’s dividend payout ratio (DPR) is currently 92.82%.

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.