Parex Resources (TSE:PXT) PT Raised to C$25.00

Parex Resources (TSE:PXT) had its price target boosted by investment analysts at Royal Bank of Canada from C$24.00 to C$25.00 in a report released on Monday, BayStreet.CA reports. Royal Bank of Canada’s price target would suggest a potential upside of 34.70% from the company’s previous close.

PXT has been the topic of a number of other research reports. National Bank Financial reaffirmed an “outperform” rating and issued a C$32.00 target price on shares of Parex Resources in a report on Friday, July 26th. Cormark raised their target price on Parex Resources from C$32.50 to C$35.00 in a report on Tuesday, July 9th.

Shares of TSE PXT opened at C$18.56 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.07 and a current ratio of 2.15. The firm has a market cap of $2.67 billion and a price-to-earnings ratio of 8.87. The business’s 50-day simple moving average is C$20.20 and its 200-day simple moving average is C$20.99. Parex Resources has a 52 week low of C$13.62 and a 52 week high of C$23.51.

Parex Resources (TSE:PXT) last released its earnings results on Thursday, August 1st. The company reported C$0.90 earnings per share (EPS) for the quarter. The business had revenue of C$403.65 million during the quarter. As a group, equities research analysts forecast that Parex Resources will post 2.5299998 earnings per share for the current year.

In other Parex Resources news, Senior Officer Eric Furlan sold 33,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of C$21.22, for a total value of C$700,260.00. Following the sale, the insider now owns 148,977 shares of the company’s stock, valued at approximately C$3,161,291.94. Also, Senior Officer David Robert Taylor sold 65,400 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of C$22.00, for a total value of C$1,438,800.00. Following the completion of the sale, the insider now directly owns 455,500 shares in the company, valued at approximately C$10,021,000. Insiders sold a total of 628,200 shares of company stock worth $13,703,361 in the last ninety days.

Parex Resources Company Profile

Parex Resources Inc engages in the exploration, development, production, and marketing of oil and natural gas in Colombia. The company holds interests in onshore exploration and production blocks totaling approximately 2,037,753 gross acres. As of December 31, 2018, it had proved plus probable reserves of 184.674 million barrels of oil equivalent.

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