Parex Resources (TSE:PXT) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Parex Resources Inc. (TSE:PXT)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$15.64 and traded as high as C$18.46. Parex Resources shares last traded at C$18.45, with a volume of 502,903 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PXT shares. BMO Capital Markets raised Parex Resources from a “hold” rating to an “outperform” rating and increased their price objective for the company from C$16.00 to C$20.00 in a report on Monday, September 15th. Royal Bank Of Canada increased their price target on shares of Parex Resources from C$20.00 to C$21.00 and gave the company a “sector perform” rating in a research note on Tuesday, October 7th. Finally, Scotiabank boosted their price objective on shares of Parex Resources from C$17.00 to C$20.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 9th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of C$20.33.

Parex Resources Trading Up 3.0%

The business has a fifty day simple moving average of C$18.16 and a 200-day simple moving average of C$15.66. The firm has a market cap of C$1.80 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 0.21 and a beta of 0.50. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.45 and a current ratio of 1.18.

Parex Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 15th were paid a dividend of $0.385 per share. The ex-dividend date of this dividend was Monday, September 8th. This represents a $1.54 annualized dividend and a dividend yield of 8.3%. Parex Resources’s dividend payout ratio (DPR) is presently 92.82%.

About Parex Resources

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.