Parex Resources Inc. (TSE:PXT) Director Buys C$232,200.00 in Stock

Parex Resources Inc. (TSE:PXT) Director Robert John Engbloom bought 10,000 shares of the stock in a transaction on Friday, May 17th. The shares were bought at an average price of C$23.22 per share, for a total transaction of C$232,200.00.

Parex Resources Stock Performance

PXT opened at C$22.29 on Friday. The company’s 50 day moving average is C$23.01 and its 200 day moving average is C$23.63. The company has a current ratio of 1.25, a quick ratio of 1.45 and a debt-to-equity ratio of 3.35. The company has a market cap of C$2.28 billion, a price-to-earnings ratio of 4.12, a PEG ratio of 0.21 and a beta of 1.56. Parex Resources Inc. has a 12-month low of C$20.17 and a 12-month high of C$30.06.

Parex Resources (TSE:PXT) last released its quarterly earnings results on Thursday, February 29th. The company reported C$1.74 earnings per share for the quarter, topping the consensus estimate of C$1.42 by C$0.32. Parex Resources had a net margin of 35.11% and a return on equity of 22.25%. The business had revenue of C$508.73 million for the quarter. On average, equities research analysts predict that Parex Resources Inc. will post 5.4840909 EPS for the current year.

Parex Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be given a dividend of $0.385 per share. The ex-dividend date of this dividend is Monday, June 10th. This is an increase from Parex Resources’s previous quarterly dividend of $0.38. This represents a $1.54 annualized dividend and a yield of 6.91%. Parex Resources’s payout ratio is 28.47%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Scotiabank reduced their price target on shares of Parex Resources from C$28.00 to C$27.00 and set a “sector perform” rating for the company in a research note on Friday, March 1st. Royal Bank of Canada cut their target price on shares of Parex Resources from C$32.00 to C$28.00 and set an “outperform” rating for the company in a research report on Friday, March 1st. Finally, Stifel Nicolaus lowered their price target on Parex Resources from C$32.75 to C$31.00 and set a “buy” rating on the stock in a report on Monday, March 4th.

About Parex Resources

Parex Resources Inc engages in the exploration, development, production, and marketing of oil and natural gas in Colombia. The company's principal land holdings and exploration blocks are in Colombia Llanos and Magdalena Basin. It has 55% working interest in Block LLA-34; 100% working interest in Cabrestero Block; and 50% working interest in Capachos Block and Block VIM-1.