Parex Resources Inc. (TSE:PXT) has received an average rating of “Buy” from the thirteen research firms that are presently covering the firm. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is C$15.63.
Several equities research analysts have recently commented on PXT shares. Haywood Securities upped their price target on Parex Resources from C$18.00 to C$21.00 and gave the stock a “buy” rating in a research note on Tuesday, August 23rd. FirstEnergy Capital upped their price objective on Parex Resources from C$14.00 to C$20.00 and gave the stock a “top pick” rating in a report on Monday, August 29th. Canaccord Genuity upped their price objective on Parex Resources from C$15.00 to C$17.00 and gave the stock a “buy” rating in a report on Friday, August 19th. Royal Bank Of Canada upped their price objective on Parex Resources from C$16.00 to C$17.50 and gave the stock an “outperform” rating in a report on Wednesday, September 28th. Finally, CIBC upped their price objective on Parex Resources from C$15.00 to C$17.50 in a report on Friday, August 12th.
Parex Resources (TSE:PXT) opened at 16.66 on Thursday. The stock’s market cap is $2.54 billion. Parex Resources has a 12-month low of $7.74 and a 12-month high of $17.40. The stock’s 50 day moving average price is $15.93 and its 200 day moving average price is $13.48.
Parex Resources Company Profile
Parex Resources Inc is a Colombian focused, international oil and gas exploration and development company, headquartered in Calgary, Canada and publically listed on the Toronto Stock Exchange (TSX:PXT). Since inception in 2009, Parex has achieved material reserves, production and land growth. The Company holds interest in multiple blocks over 2.63 million gross acres land position in the prolific Llanos Basin and the Magdalena Basins of Colombia.
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