Parex Resources (TSE:PXT) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Parex Resources Inc. (TSE:PXT) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$14.21 and traded as high as C$14.35. Parex Resources shares last traded at C$14.10, with a volume of 822,890 shares trading hands.

Wall Street Analyst Weigh In

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

Parex Resources Trading Down 1.5 %

The company has a market cap of C$989.17 million, a price-to-earnings ratio of 3.86, a price-to-earnings-growth ratio of 0.21 and a beta of 1.43. The business’s fifty day moving average price is C$14.38 and its 200 day moving average price is C$14.18. 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 Announces Dividend

The company 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 of this dividend was Monday, December 9th. This represents a $1.54 annualized dividend and a yield of 10.92%. Parex Resources’s payout ratio is 42.12%.

Insider Activity at Parex Resources

In other news, Senior Officer Cam Grainger acquired 13,500 shares of Parex Resources stock in a transaction on Thursday, December 12th. The stock was acquired at an average cost of C$13.45 per share, with a total value of C$181,575.00. 1.64% of the stock is owned by company insiders.

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.