Parex Resources Inc. (OTCMKTS:PARXF) Short Interest Update

Parex Resources Inc. (OTCMKTS:PARXF) was the target of a large drop in short interest in the month of June. As of June 30th, there was short interest totaling 603,918 shares, a drop of 76.7% from the June 15th total of 2,594,744 shares. Based on an average daily volume of 199,298 shares, the days-to-cover ratio is presently 3.0 days.

Analyst Upgrades and Downgrades

Separately, Scotiabank reaffirmed a “sector perform” rating on shares of Parex Resources in a research note on Monday, June 22nd. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Parex Resources presently has a consensus rating of “Moderate Buy”.

Parex Resources Stock Performance

Shares of Parex Resources stock traded up $0.11 on Friday, hitting $15.72. The company had a trading volume of 21,082 shares, compared to its average volume of 66,480. Parex Resources has a 1 year low of $10.20 and a 1 year high of $22.14. The stock has a 50 day moving average of $18.03 and a 200-day moving average of $17.02.

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.