Parex Resources (TSE:PXT) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Parex Resources (TSE:PXT) had its target price increased by research analysts at Royal Bank Of Canada from C$20.00 to C$23.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s target price would suggest a potential upside of 2.36% from the stock’s current price.

PXT has been the topic of a number of other research reports. Roth Mkm set a C$24.00 target price on shares of Parex Resources and gave the stock a “buy” rating in a research note on Friday, December 12th. Jefferies Financial Group raised their price objective on Parex Resources from C$18.00 to C$20.50 in a report on Monday, December 15th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$21.50.

Parex Resources Price Performance

TSE PXT traded down C$0.28 during trading on Thursday, hitting C$22.47. 610,447 shares of the company’s stock were exchanged, compared to its average volume of 648,209. The company has a market cap of C$2.16 billion, a PE ratio of 19.04, a P/E/G ratio of 0.21 and a beta of 0.70. The company has a current ratio of 0.99, a quick ratio of 1.45 and a debt-to-equity ratio of 0.79. Parex Resources has a fifty-two week low of C$10.30 and a fifty-two week high of C$23.31. The stock’s 50 day moving average price is C$19.97 and its two-hundred day moving average price is C$18.73.

Parex Resources (TSE:PXT) last announced its quarterly earnings results on Wednesday, March 4th. The company reported C$0.43 earnings per share (EPS) for the quarter. The company had revenue of C$223.53 million for the quarter. Parex Resources had a net margin of 10.97% and a return on equity of 5.88%.

About Parex Resources

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.