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

Parex Resources Inc. (OTCMKTS:PARXF) saw a large growth in short interest in the month of August. As of August 14th, there was short interest totaling 1,838,933 shares, a growth of 60.2% from the July 30th total of 1,147,616 shares. Based on an average trading volume of 190,964 shares, the short-interest ratio is presently 9.6 days.

Parex Resources Price Performance

PARXF stock opened at $20.68 on Tuesday. The stock’s fifty day simple moving average is $17.25 and its two-hundred day simple moving average is $18.03. Parex Resources has a 1-year low of $11.92 and a 1-year high of $22.14.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Parex Resources stock. Alaska Permanent Fund Corp purchased a new position in Parex Resources Inc. (OTCMKTS:PARXF) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 653,943 shares of the company’s stock, valued at approximately $2,763,000. Parex Resources accounts for about 0.0% of Alaska Permanent Fund Corp’s investment portfolio, making the stock its 7th biggest position. Institutional investors and hedge funds own 33.35% of the company’s stock.

Analyst Ratings Changes

Separately, Scotiabank reiterated a “sector perform” rating on shares of Parex Resources in a report on Thursday, August 13th. Two equities research 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, Parex Resources currently has a consensus rating of “Moderate Buy”.

About Parex Resources

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.