Parex Resources Inc. (OTCMKTS:PARXF – Get Free Report) shares crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $16.97 and traded as low as $16.8750. Parex Resources shares last traded at $17.3320, with a volume of 55,728 shares traded.
Wall Street Analysts Forecast Growth
Separately, Scotiabank restated a “sector perform” rating on shares of Parex Resources in a research report on Monday, June 22nd. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.
Get Our Latest Stock Report on Parex Resources
Parex Resources Stock Up 3.4%
Parex Resources Company Profile
Parex Resources Inc is a Canada-based exploration and production company primarily engaged in the acquisition, development and production of oil resources. The company holds a portfolio of prolific onshore blocks in Colombia, targeting both light and medium crude oil. Parex employs a strategic exploration approach, integrating seismic studies and advanced drilling techniques to optimize reservoir development and enhance recovery rates.
Headquartered in Calgary, Alberta, Parex has focused its operations on Colombia’s Llanos Basin and the Caguan and Putumayo basins.
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