Parex Resources (TSE:PXT) Director Glenn Mcnamara Buys 7,500 Shares of Company Stock

Parex Resources Inc. (TSE:PXT) Director Glenn Mcnamara bought 7,500 shares of Parex Resources stock in a transaction on Monday, November 9th. The shares were acquired at an average price of C$20.26 per share, for a total transaction of C$151,950.00. Following the completion of the acquisition, the director owned 29,998 shares of the company’s stock, valued at approximately C$607,759.48. This represents a 33.34% increase in their position.

Parex Resources Price Performance

TSE:PXT opened at C$19.81 on Tuesday. Parex Resources Inc. has a 1 year low of C$17.12 and a 1 year high of C$30.44. The stock has a 50-day moving average price of C$27.59 and a two-hundred day moving average price of C$25.33. The stock has a market cap of C$1.91 billion, a price-to-earnings ratio of 3.33, a PEG ratio of 0.21 and a beta of 0.25. The company has a current ratio of 0.88, a quick ratio of 1.45 and a debt-to-equity ratio of 34.66.

Parex Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 15th were given a $0.3850 dividend. The ex-dividend date was Tuesday, September 8th. This represents a $1.54 annualized dividend and a dividend yield of 7.8%. Parex Resources’s payout ratio is currently 18.57%.

More Parex Resources News

Here are the key news stories impacting Parex Resources this week:

• Positive Sentiment: Two directors and insider Imad Mohsen reported buying Parex shares on November 9. The largest disclosed purchases were 24,870 shares by Mohsen for about C$499,141 and a combined 12,500 shares by the two directors for about C$251,150. Insider buying can be a positive confidence signal. Insider transactions
• Negative Sentiment: A report said Parex shares had fallen 16.8%, indicating significant recent selling pressure. The headline does not provide a reason for the decline or further details on what investors may expect next. Parex Resources Stock Price Down 16.8% – What’s Next?

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. ATB Cormark Capital Markets set a C$35.00 target price on shares of Parex Resources and gave the stock an “outperform” rating in a report on Monday, October 26th. Scotiabank increased their price objective on shares of Parex Resources from C$29.00 to C$30.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 13th. 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, Parex Resources currently has a consensus rating of “Moderate Buy” and an average price target of C$28.30.

About Parex Resources

Parex is the largest independent oil and gas company in Colombia, focusing on sustainable conventional production. The Company’s corporate headquarters are in Calgary, Canada, with an operating office in Bogota, Colombia.