Parex Resources (TSE:PXT) Stock Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Shares of Parex Resources Inc. (TSE:PXT) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$14.36 and traded as high as C$15.12. Parex Resources shares last traded at C$15.02, with a volume of 351,905 shares.

Analyst Ratings Changes

Separately, BMO Capital Markets lifted their target price on shares of Parex Resources from C$14.00 to C$16.00 in a research note on Wednesday, January 15th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of C$21.44.

Parex Resources Stock Up 2.9 %

The company has a market cap of C$1.05 billion, a price-to-earnings ratio of 4.11, a PEG ratio of 0.21 and a beta of 1.43. The business has a 50-day simple moving average of C$14.21 and a two-hundred day simple moving average of C$14.36. The company has a quick ratio of 1.45, a current ratio of 1.18 and a debt-to-equity ratio of 1.81.

Parex Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 16th were issued a $0.385 dividend. The ex-dividend date was Monday, December 9th. This represents a $1.54 annualized dividend and a yield of 10.25%. Parex Resources’s dividend payout ratio (DPR) is currently 42.12%.

Insider Buying and Selling at Parex Resources

In other news, Senior Officer Cam Grainger bought 13,500 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was purchased at an average price of C$13.45 per share, with a total value of C$181,575.00. Corporate insiders own 1.64% of the company’s stock.

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.