Insider Buying: Parex Resources Inc. (TSE:PXT) Senior Officer Purchases 13,500 Shares of Stock

Parex Resources Inc. (TSE:PXT) Senior Officer Cam Grainger acquired 13,500 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were bought at an average cost of C$13.45 per share, for a total transaction of C$181,575.00.

Parex Resources Stock Performance

Shares of PXT stock opened at C$13.53 on Friday. The company’s fifty day simple moving average is C$13.90 and its 200-day simple moving average is C$16.94. The company has a current ratio of 1.14, a quick ratio of 1.45 and a debt-to-equity ratio of 2.90. Parex Resources Inc. has a 52 week low of C$11.33 and a 52 week high of C$25.78. The company has a market cap of C$1.37 billion, a PE ratio of 3.23, a P/E/G ratio of 0.21 and a beta of 1.43.

Parex Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 16th will be paid a dividend of $0.385 per share. This represents a $1.54 dividend on an annualized basis and a dividend yield of 11.38%. The ex-dividend date is Monday, December 9th. Parex Resources’s dividend payout ratio is presently 36.75%.

Analyst Upgrades and Downgrades

PXT has been the topic of several analyst reports. BMO Capital Markets raised their price target on shares of Parex Resources from C$13.00 to C$14.00 in a research note on Thursday, November 7th. 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 reduced their price target on 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. Royal Bank of Canada decreased their price objective on Parex Resources from C$17.00 to C$15.00 in a report on Tuesday, September 17th. Finally, Eight Capital lowered Parex Resources from a “buy” rating to a “neutral” rating and dropped their target price for the company from C$32.50 to C$16.00 in a research note on Friday, August 30th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of C$21.86.

Parex Resources Company Profile

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.