Parex Resources Inc. (TSE:PXT) Director Buys C$63,063.00 in Stock

Parex Resources Inc. (TSE:PXT) Director Sigmund Cornelius acquired 5,000 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were acquired at an average price of C$12.61 per share, with a total value of C$63,063.00.

Parex Resources Stock Performance

Shares of PXT stock opened at C$12.76 on Monday. The firm has a market capitalization of C$895.17 million, a price-to-earnings ratio of 3.49, a price-to-earnings-growth ratio of 0.21 and a beta of 1.43. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.18 and a quick ratio of 1.45. The business has a fifty day moving average of C$14.32 and a 200 day moving average of C$13.99. Parex Resources Inc. has a 1 year low of C$11.33 and a 1 year high of C$24.88.

Wall Street Analysts Forecast Growth

PXT has been the subject of several analyst reports. BMO Capital Markets increased their price objective on Parex Resources from C$14.00 to C$16.00 in a report on Wednesday, January 15th. Royal Bank of Canada increased their price objective on Parex Resources from C$15.00 to C$16.00 and gave the company a “sector perform” rating in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of C$20.21.

Parex Resources Company Profile

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.