Parex Resources Inc. (TSE:PXT) to Issue Quarterly Dividend of $0.39

Parex Resources Inc. (TSE:PXT) announced a quarterly dividend on Monday, December 8th, TickerTech Dividends reports. Stockholders of record on Monday, December 15th will be given a dividend of 0.385 per share on Monday, December 15th. This represents a c) dividend on an annualized basis and a dividend yield of 8.0%. The ex-dividend date of this dividend is Monday, December 8th.

Parex Resources Price Performance

Shares of TSE:PXT opened at C$19.17 on Friday. Parex Resources has a one year low of C$10.30 and a one year high of C$19.81. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.18 and a quick ratio of 1.45. The company has a market cap of C$1.87 billion, a price-to-earnings ratio of 16.25, a PEG ratio of 0.21 and a beta of 0.61. The firm has a 50 day simple moving average of C$18.39 and a 200 day simple moving average of C$16.60.

Parex Resources (TSE:PXT) last announced its quarterly earnings results on Tuesday, November 4th. The company reported C$0.52 earnings per share (EPS) for the quarter. Parex Resources had a net margin of 19.08% and a return on equity of 13.52%. The company had revenue of C$311.63 million during the quarter.

Wall Street Analyst Weigh In

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

Parex Resources Company Profile

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.