Parex Resources (TSE:PXT) Shares Cross Above Two Hundred Day Moving Average – Should You Sell?

Parex Resources Inc. (TSE:PXT) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$22.13 and traded as high as C$25.99. Parex Resources shares last traded at C$25.62, with a volume of 523,732 shares.

Analyst Ratings Changes

Separately, Royal Bank Of Canada raised their price target on shares of Parex Resources from C$28.00 to C$32.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 8th. Two 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 stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$23.30.

Parex Resources Trading Up 0.2%

The company has a market cap of C$2.47 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 0.21 and a beta of 0.18. The company has a quick ratio of 1.45, a current ratio of 1.49 and a debt-to-equity ratio of 9.51. The business has a 50-day simple moving average of C$26.82 and a 200-day simple moving average of C$22.18.

Parex Resources (TSE:PXT) last announced its earnings results on Tuesday, May 12th. The company reported C$0.07 earnings per share (EPS) for the quarter. The company had revenue of C$284.35 million for the quarter. Parex Resources had a return on equity of 9.34% and a net margin of 19.59%.

Parex Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 25th were given a $0.385 dividend. The ex-dividend date of this dividend was Wednesday, March 18th. This represents a $1.54 dividend on an annualized basis and a yield of 6.0%. Parex Resources’s payout ratio is presently 60.30%.

Insider Transactions at Parex Resources

In other news, insider Imad Mohsen bought 14,600 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were bought at an average price of C$27.37 per share, with a total value of C$399,602.00. Following the completion of the transaction, the insider directly owned 139,501 shares in the company, valued at C$3,818,142.37. This trade represents a 11.69% increase in their ownership of the stock. 1.64% of the stock is currently owned by insiders.

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.