Parex Resources (TSE:PXT) PT Lowered to C$25.00 at Haywood Securities

Parex Resources (TSE:PXT) had its target price reduced by Haywood Securities from C$33.00 to C$25.00 in a research report issued on Friday, BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Haywood Securities’ target price indicates a potential upside of 86.15% from the company’s previous close.

PXT has been the topic of a number of other reports. Jefferies Financial Group reduced their price target on Parex Resources from C$23.80 to C$19.50 in a research report on Thursday. Scotiabank lowered their price target on Parex Resources from C$23.00 to C$19.00 and set a “sector perform” rating for the company in a report on Friday. Royal Bank of Canada downgraded shares of Parex Resources from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from C$23.00 to C$17.00 in a report on Thursday. Finally, Cormark lowered their target price on shares of Parex Resources from C$33.00 to C$30.00 in a research note on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Parex Resources currently has a consensus rating of “Hold” and a consensus price target of C$25.27.

Parex Resources Trading Up 1.9 %

TSE:PXT traded up C$0.25 during midday trading on Friday, hitting C$13.43. The stock had a trading volume of 1,320,773 shares, compared to its average volume of 613,666. The company has a quick ratio of 1.45, a current ratio of 1.14 and a debt-to-equity ratio of 2.90. The stock has a 50-day moving average of C$19.64 and a 200 day moving average of C$21.38. The company has a market capitalization of C$1.36 billion, a price-to-earnings ratio of 3.24, a PEG ratio of 0.21 and a beta of 1.47. Parex Resources has a one year low of C$11.33 and a one year high of C$28.23.

Parex Resources (TSE:PXT) last posted its earnings results on Wednesday, July 31st. The company reported C$0.05 earnings per share (EPS) for the quarter. Parex Resources had a return on equity of 17.02% and a net margin of 26.15%. The company had revenue of C$499.23 million for the quarter. As a group, sell-side analysts forecast that Parex Resources will post 4.0255814 EPS for the current year.

Insider Buying and Selling at Parex Resources

In other Parex Resources news, Director G.R. (Bob) Mac Dougall bought 7,674 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was bought at an average cost of C$13.05 per share, for a total transaction of C$100,115.00. Company insiders own 1.56% of the company’s stock.

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.