Parex Resources (TSE:PXT – Get Free Report) had its target price reduced by equities research analysts at Royal Bank of Canada from C$17.00 to C$15.00 in a research note issued on Tuesday, BayStreet.CA reports. Royal Bank of Canada’s price objective points to a potential upside of 23.15% from the stock’s previous close.
Several other research analysts have also recently weighed in on PXT. Cormark dropped their price target on shares of Parex Resources from C$33.00 to C$30.00 in a research note on Thursday, August 1st. Jefferies Financial Group lowered their target price on shares of Parex Resources from C$23.80 to C$19.50 in a research note on Thursday, August 29th. Haywood Securities lowered their target price on shares of Parex Resources from C$33.00 to C$25.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Eight Capital cut shares of Parex Resources from a “buy” rating to a “neutral” rating and lowered their target price for the company from C$32.50 to C$16.00 in a research note on Friday, August 30th. Finally, Scotiabank lowered their target price on shares of Parex Resources from C$23.00 to C$19.00 and set a “sector perform” rating on the stock in a research note on Friday, August 30th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of C$25.07.
Read Our Latest Report on Parex Resources
Parex Resources Stock Performance
Parex Resources (TSE:PXT – Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The company reported C$0.05 earnings per share for the quarter. The business had revenue of C$499.23 million for the quarter. Parex Resources had a net margin of 26.15% and a return on equity of 17.02%. On average, analysts forecast that Parex Resources will post 2.6732456 EPS for the current year.
Insider Transactions at Parex Resources
In other Parex Resources news, Senior Officer Eric Furlan bought 3,000 shares of Parex Resources stock in a transaction dated Friday, September 13th. The shares were purchased at an average cost of C$11.85 per share, for a total transaction of C$35,550.00. In other Parex Resources news, Senior Officer Eric Furlan bought 3,000 shares of Parex Resources stock in a transaction dated Friday, September 13th. The shares were purchased at an average cost of C$11.85 per share, for a total transaction of C$35,550.00. Also, Senior Officer Imad Mohsen bought 13,100 shares of Parex Resources stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average price of C$13.33 per share, for a total transaction of C$174,623.00. Insiders have acquired a total of 54,804 shares of company stock worth $705,285 in the last three months. Insiders own 1.64% of the company’s stock.
About Parex Resources
Parex Resources Inc engages in the exploration, development, production, and marketing of oil and natural gas in Colombia. The company's principal land holdings and exploration blocks are in Colombia Llanos and Magdalena Basin. It has 55% working interest in Block LLA-34; 100% working interest in Cabrestero Block; and 50% working interest in Capachos Block and Block VIM-1.
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