Parex Resources Inc. (TSE:PXT) – Equities researchers at Cormark lifted their FY2017 EPS estimates for Parex Resources in a note issued to investors on Wednesday. Cormark analyst G. Ursu now forecasts that the company will post earnings per share of $1.18 for the year, up from their previous estimate of $1.13.

Parex Resources (TSE:PXT) last released its quarterly earnings data on Tuesday, November 7th. The company reported C$0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.26 by C$0.18. Parex Resources had a return on equity of 27.78% and a net margin of 37.80%. The company had revenue of C$200.60 million for the quarter, compared to analyst estimates of C$194.33 million.

A number of other analysts have also issued reports on the company. Scotiabank boosted their price objective on Parex Resources from C$27.00 to C$28.00 and gave the company a “focus stock” rating in a research note on Wednesday. CIBC boosted their price objective on Parex Resources from C$22.50 to C$25.00 in a research note on Tuesday, January 23rd. Eight Capital boosted their price objective on Parex Resources from C$23.00 to C$30.00 in a research note on Monday, December 11th. Finally, Royal Bank of Canada boosted their price objective on Parex Resources from C$20.00 to C$24.00 and gave the company an “outperform” rating in a research note on Friday, November 10th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of C$24.29.

Shares of Parex Resources (TSE:PXT) opened at C$17.56 on Thursday. Parex Resources has a one year low of C$12.19 and a one year high of C$19.86. The stock has a market capitalization of $2,710.00, a price-to-earnings ratio of 42.83 and a beta of 0.65.

In other news, Director Ronald Douglas Miller acquired 3,100 shares of the business’s stock in a transaction dated Friday, November 17th. The stock was purchased at an average cost of C$17.00 per share, for a total transaction of C$52,700.00. Also, insider Michael Kruchten sold 3,842 shares of the company’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of C$17.96, for a total value of C$69,002.32. Insiders sold a total of 18,842 shares of company stock worth $338,802 over the last 90 days.

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About Parex Resources

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.

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