Royal Bank of Canada Issues Positive Forecast for Parex Resources (TSE:PXT) Stock Price

Posted by Donald Scott on Mar 7th, 2025

Parex Resources (TSE:PXT – Free Report) had its target price increased by Royal Bank of Canada from C$15.00 to C$16.00 in a research report released on Thursday morning,BayStreet.CA reports. The brokerage currently has a sector perform rating on the stock.

Separately, BMO Capital Markets boosted their price objective on Parex Resources from C$14.00 to C$16.00 in a research note on Wednesday, January 15th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of C$20.21.

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Parex Resources Stock Up 2.7 %

Shares of PXT opened at C$12.63 on Thursday. The company has a market capitalization of C$886.05 million, a P/E ratio of 3.45, a PEG ratio of 0.21 and a beta of 1.43. Parex Resources has a one year low of C$11.33 and a one year high of C$24.88. The business’s 50 day simple moving average is C$14.35 and its 200-day simple moving average is C$14.08. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 16th were issued a dividend of $0.385 per share. This represents a $1.54 annualized dividend and a yield of 12.19%. The ex-dividend date of this dividend was Monday, December 9th. Parex Resources’s dividend payout ratio is 42.12%.

Insider Activity

In other Parex Resources news, Senior Officer Cam Grainger bought 13,500 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were bought at an average cost of C$13.45 per share, for a total transaction of C$181,575.00. Insiders own 1.64% of the company’s stock.

About Parex Resources

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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.