Parex Resources (TSE:PXT) Releases Earnings Results

Parex Resources (TSE:PXT) issued its quarterly earnings data on Wednesday. The company reported C$0.43 EPS for the quarter, FiscalAI reports. Parex Resources had a return on equity of 5.88% and a net margin of 10.97%.The company had revenue of C$223.53 million during the quarter.

Parex Resources Price Performance

PXT stock opened at C$22.80 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.45 and a current ratio of 0.99. The company’s fifty day moving average price is C$20.07 and its 200-day moving average price is C$18.76. Parex Resources has a one year low of C$10.30 and a one year high of C$23.31. The company has a market capitalization of C$2.19 billion, a PE ratio of 19.32, a price-to-earnings-growth ratio of 0.21 and a beta of 0.63.

Parex Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 15th were given a dividend of $0.385 per share. The ex-dividend date was Monday, December 8th. This represents a $1.54 annualized dividend and a dividend yield of 6.8%. Parex Resources’s dividend payout ratio (DPR) is presently 92.82%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on PXT shares. Royal Bank Of Canada upped their price target on shares of Parex Resources from C$20.00 to C$23.00 and gave the company a “sector perform” rating in a research report on Thursday. Jefferies Financial Group upped their target price on shares of Parex Resources from C$18.00 to C$20.50 in a report on Monday, December 15th. Finally, Roth Mkm set a C$24.00 price target on shares of Parex Resources and gave the stock a “buy” rating in a research note on Friday, December 12th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$21.50.

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.