Parex Resources (TSE:PXT) Share Price Crosses Above 200 Day Moving Average – Should You Sell?

Parex Resources Inc. (TSE:PXT) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$18.18 and traded as high as C$21.09. Parex Resources shares last traded at C$20.22, with a volume of 782,398 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Royal Bank Of Canada lowered their target price on shares of Parex Resources from C$21.00 to C$20.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 13th. Jefferies Financial Group increased their price target on Parex Resources from C$18.00 to C$20.50 in a research report on Monday, December 15th. Finally, Roth Mkm set a C$24.00 price objective on Parex Resources and gave the stock a “buy” rating in a research note on Friday, December 12th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$20.90.

Parex Resources Stock Performance

The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.45 and a current ratio of 1.18. The company has a market cap of C$1.94 billion, a P/E ratio of 17.14, a P/E/G ratio of 0.21 and a beta of 0.70. The stock’s fifty day moving average price is C$18.97 and its two-hundred day moving average price is C$18.18.

Parex Resources (TSE:PXT) last announced its quarterly earnings data 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 business had revenue of C$311.63 million for the quarter.

Parex Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 15th were paid a $0.385 dividend. The ex-dividend date of this dividend was Monday, December 8th. This represents a $1.54 annualized dividend and a yield of 7.6%. Parex Resources’s dividend payout ratio (DPR) is 92.82%.

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. Parex depends on a team of geologists and geophysicists, in partnership with technologies such as 3D seismic surveying, to help exploration efforts.