Parex Resources (TSE:PXT) Stock Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Parex Resources Inc. (TSE:PXT) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$18.18 and traded as high as C$21.09. Parex Resources shares last traded at C$20.22, with a volume of 782,398 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PXT. Royal Bank Of Canada lowered their price objective on shares of Parex Resources from C$21.00 to C$20.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 13th. Roth Mkm set a C$24.00 price target on shares of Parex Resources and gave the stock a “buy” rating in a report on Friday, December 12th. Finally, 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 investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$20.90.

Parex Resources Price Performance

The company’s 50 day moving average price is C$18.97 and its 200-day moving average price is C$18.18. The stock has a market cap of C$1.94 billion, a P/E ratio of 17.14, a P/E/G ratio of 0.21 and a beta of 0.70. The company has a quick ratio of 1.45, a current ratio of 1.18 and a debt-to-equity ratio of 1.81.

Parex Resources (TSE:PXT) last issued its quarterly earnings data on Tuesday, November 4th. The company reported C$0.52 earnings per share for the quarter. The company had revenue of C$311.63 million for the quarter. Parex Resources had a net margin of 19.08% and a return on equity of 13.52%.

Parex Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 15th were given a $0.385 dividend. This represents a $1.54 dividend on an annualized basis and a dividend yield of 7.6%. The ex-dividend date was Monday, December 8th. Parex Resources’s payout ratio is 92.82%.

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.