Parex Resources (OTCMKTS:PARXF) Shares Down 3.4% – What’s Next?

Parex Resources Inc. (OTCMKTS:PARXF) shares were down 3.4% during trading on Thursday. The stock traded as low as $19.6375 and last traded at $19.67. Approximately 28,935 shares were traded during trading, a decline of 71% from the average daily volume of 98,961 shares. The stock had previously closed at $20.37.

Analyst Upgrades and Downgrades

Separately, Scotiabank reissued a “sector perform” rating on shares of Parex Resources in a research report on Monday, October 19th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Parex Resources Stock Performance

The stock’s 50 day moving average is $20.07 and its two-hundred day moving average is $18.15.

About Parex Resources

Parex Resources Inc is a Canadian independent oil and gas exploration and production company headquartered in Calgary, Alberta. The company focuses primarily on the exploration, development and production of crude oil and natural gas in Colombia.

Parex’s operations are concentrated in Colombia’s Llanos and Middle Magdalena basins, where it holds interests in a portfolio of producing fields and exploration properties. Its activities include seismic evaluation, drilling, field development, production optimization and related infrastructure management.