Parex Resources (TSE:PXT) had its price target reduced by Cormark from C$35.00 to C$32.00 in a research report sent to investors on Tuesday.

A number of other equities analysts also recently commented on the stock. Eight Capital reduced their target price on shares of Parex Resources from C$39.50 to C$28.50 in a research note on Thursday, August 9th. Royal Bank of Canada lifted their target price on shares of Parex Resources from C$28.00 to C$30.00 and gave the stock an outperform rating in a research note on Thursday, July 26th. Finally, Canaccord Genuity lifted their target price on shares of Parex Resources from C$27.00 to C$31.50 in a research note on Tuesday, July 10th.

Shares of PXT stock opened at C$20.81 on Tuesday. Parex Resources has a 12 month low of C$15.33 and a 12 month high of C$26.78.

Parex Resources (TSE:PXT) last issued its earnings results on Wednesday, August 8th. The company reported C$1.52 EPS for the quarter, missing analysts’ consensus estimates of C$1.53 by C($0.01). Parex Resources had a return on equity of 26.07% and a net margin of 30.38%. The firm had revenue of C$312.03 million for the quarter, compared to analysts’ expectations of C$272.12 million.

About Parex Resources

Parex Resources Inc engages in the exploration, development, production, and marketing of oil and natural gas in Colombia. The company holds interests in onshore exploration and production blocks totaling approximately 1,574,279 gross acres. As of December 31, 2017, it had proved plus probable reserves of 162.236 million barrels of oil equivalent.

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