Insider Buying: Parex Resources Inc. (TSE:PXT) Senior Officer Buys 23,250 Shares of Stock

Parex Resources Inc. (TSE:PXT) Senior Officer Imad Mohsen acquired 23,250 shares of Parex Resources stock in a transaction dated Friday, April 11th. The stock was purchased at an average price of C$10.83 per share, for a total transaction of C$251,797.50.

Parex Resources Price Performance

Shares of PXT opened at C$11.09 on Friday. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.18 and a quick ratio of 1.45. Parex Resources Inc. has a 1-year low of C$10.30 and a 1-year high of C$24.88. The stock has a market cap of C$778.01 million, a PE ratio of 3.03, a price-to-earnings-growth ratio of 0.21 and a beta of 1.43. The firm has a fifty day moving average price of C$13.30 and a 200 day moving average price of C$13.69.

Parex Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 18th were issued a $0.385 dividend. This represents a $1.54 annualized dividend and a dividend yield of 13.89%. The ex-dividend date was Tuesday, March 11th. Parex Resources’s payout ratio is currently 42.12%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. BMO Capital Markets increased their target price on Parex Resources from C$14.00 to C$16.00 in a report on Wednesday, January 15th. Royal Bank of Canada increased their price objective on Parex Resources from C$15.00 to C$16.00 and gave the company a “sector perform” rating in a report on Thursday, March 6th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Parex Resources presently has a consensus rating of “Hold” and an average price target of C$20.21.

About Parex Resources

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.