Parex Resources (TSE:PXT) Stock: Insider Eric Furlan Sells 8,000 Shares

Parex Resources Inc. (TSE:PXT) insider Eric Furlan sold 8,000 shares of the stock in a transaction that occurred on Thursday, October 22nd. The shares were sold at an average price of C$29.20, for a total value of C$233,600.00. Following the transaction, the insider directly owned 111,301 shares of the company’s stock, valued at C$3,249,989.20. The trade was a 6.71% decrease in their position.

Parex Resources Price Performance

Shares of TSE PXT traded down C$0.10 during midday trading on Thursday, hitting C$29.18. The stock had a trading volume of 571,228 shares, compared to its average volume of 881,531. The company has a market capitalization of C$2.81 billion, a PE ratio of 4.90, a P/E/G ratio of 0.21 and a beta of 0.17. The stock has a 50 day simple moving average of C$28.01 and a 200-day simple moving average of C$26.11. Parex Resources Inc. has a 1 year low of C$17.12 and a 1 year high of C$30.20. The company has a quick ratio of 1.45, a current ratio of 0.88 and a debt-to-equity ratio of 34.66.

Parex Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 15th were given a dividend of $0.3850 per share. This represents a $1.54 annualized dividend and a dividend yield of 5.3%. The ex-dividend date was Tuesday, September 8th. Parex Resources’s payout ratio is presently 18.57%.

Wall Street Analysts Forecast Growth

Separately, Scotiabank raised their price objective on Parex Resources from C$29.00 to C$30.00 and gave the company a “sector perform” rating in a report on Thursday, August 13th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of C$26.62.

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.