Parex Resources (OTCMKTS:PARXF) Shares Cross Below 50 Day Moving Average – Time to Sell?

Shares of Parex Resources Inc. (OTCMKTS:PARXF) crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $9.15 and traded as low as $8.32. Parex Resources shares last traded at $8.37, with a volume of 29,622 shares.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Scotiabank reissued a “sector perform” rating on shares of Parex Resources in a report on Friday, April 11th. Royal Bank of Canada reissued a “sector perform” rating on shares of Parex Resources in a research note on Thursday, March 6th.

Parex Resources Stock Up 3.2 %

The stock has a fifty day moving average price of $9.15 and a 200-day moving average price of $9.67.

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.