Imad Mohsen Purchases 14,600 Shares of Parex Resources (TSE:PXT) Stock

Parex Resources Inc. (TSE:PXT) insider Imad Mohsen bought 14,600 shares of the stock in a transaction dated Thursday, May 14th. The shares were acquired at an average price of C$27.37 per share, with a total value of C$399,602.00. Following the completion of the purchase, the insider directly owned 139,501 shares of the company’s stock, valued at approximately C$3,818,142.37. This represents a 11.69% increase in their ownership of the stock.

Parex Resources Stock Down 0.1%

PXT traded down C$0.02 during trading on Thursday, hitting C$27.26. The company had a trading volume of 497,355 shares, compared to its average volume of 881,427. The company has a market cap of C$2.62 billion, a PE ratio of 10.40, a P/E/G ratio of 0.21 and a beta of 0.18. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.11 and a quick ratio of 1.45. Parex Resources Inc. has a 1-year low of C$12.17 and a 1-year high of C$30.20. The business has a 50-day moving average of C$26.34 and a 200-day moving average of C$21.67.

Parex Resources (TSE:PXT) last announced its quarterly earnings data on Tuesday, May 12th. The company reported C$0.07 earnings per share for the quarter. Parex Resources had a return on equity of 13.39% and a net margin of 26.85%.The firm had revenue of C$284.35 million during the quarter.

Parex Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 25th were issued a $0.385 dividend. This represents a $1.54 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend was Wednesday, March 18th. Parex Resources’s payout ratio is currently 42.29%.

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada lifted their price target on shares of Parex Resources from C$28.00 to C$32.00 and gave the company a “sector perform” rating in a report on Wednesday, April 8th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Parex Resources currently has a consensus rating of “Moderate Buy” and an average price target of C$23.30.

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.