Parex Resources (OTCMKTS:PARXF) Trading Up 1.8% – Here’s What Happened

Shares of Parex Resources Inc. (OTCMKTS:PARXF) traded up 1.8% on Friday . The company traded as high as $14.20 and last traded at $14.13. 14,319 shares traded hands during trading, a decline of 71% from the average session volume of 49,120 shares. The stock had previously closed at $13.88.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PARXF. Scotiabank reiterated a “sector perform” rating on shares of Parex Resources in a research report on Thursday, October 9th. Roth Capital assumed coverage on shares of Parex Resources in a research note on Friday, December 12th. They issued a “buy” rating on the stock. Finally, Royal Bank Of Canada reiterated a “sector perform” rating on shares of Parex Resources in a research report on Monday, September 29th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Parex Resources Price Performance

The business’s 50-day moving average is $13.22 and its two-hundred day moving average is $12.56.

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.