Shares of Parex Resources Inc. (TSE:PXT) have received a consensus recommendation of “Buy” from the eight brokerages that are presently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is C$23.44.

PXT has been the topic of several research analyst reports. Eight Capital boosted their price target on shares of Parex Resources from C$23.00 to C$30.00 in a research note on Monday, December 11th. Scotiabank boosted their price target on shares of Parex Resources from C$24.00 to C$26.00 and gave the stock a “focus stock” rating in a research note on Wednesday, December 13th. Finally, Royal Bank of Canada boosted their price target on shares of Parex Resources from C$20.00 to C$24.00 and gave the stock an “outperform” rating in a research note on Friday, November 10th.

Shares of Parex Resources (TSE:PXT) opened at C$18.88 on Friday. The company has a market cap of $2,940.00, a price-to-earnings ratio of 46.05 and a beta of 0.63. Parex Resources has a one year low of C$12.19 and a one year high of C$19.16.

In other news, insider Eric Furlan sold 5,000 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of C$17.90, for a total transaction of C$89,500.00. Also, insider Wayne Kim Foo sold 300,000 shares of the company’s stock in a transaction dated Friday, October 13th. The shares were sold at an average price of C$16.00, for a total transaction of C$4,800,000.00. Insiders have sold a total of 318,842 shares of company stock worth $5,138,802 over the last 90 days.

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Parex Resources Company Profile

Parex Resources, Inc is a Canada-based oil and gas company. The Company is engaged in crude oil exploration, development and production in Colombia. The Company’s segments include Canada and Colombia. The Company, through its foreign subsidiaries, holds interests in onshore exploration and production blocks totaling approximately 1,870,120 gross acres.

Analyst Recommendations for Parex Resources (TSE:PXT)

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