Parex Resources (TSE:PXT) Insider Sells C$624,568.22 in Stock

Parex Resources Inc. (TSE:PXT) insider Michael Kruchten sold 21,382 shares of the stock in a transaction dated Monday, October 19th. The shares were sold at an average price of C$29.21, for a total value of C$624,568.22. Following the completion of the sale, the insider owned 61,620 shares of the company’s stock, valued at approximately C$1,799,920.20. This trade represents a 25.76% decrease in their position.

Parex Resources Stock Down 1.4%

Shares of TSE:PXT traded down C$0.40 during mid-day trading on Tuesday, hitting C$29.10. 230,157 shares of the company traded hands, compared to its average volume of 884,155. The firm’s 50 day simple moving average is C$27.82 and its 200 day simple moving average is C$26.06. The firm has a market cap of C$2.80 billion, a P/E ratio of 4.89, a PEG ratio of 0.21 and a beta of 0.17. The company has a debt-to-equity ratio of 34.66, a quick ratio of 1.45 and a current ratio of 0.88. Parex Resources Inc. has a 52-week low of C$17.12 and a 52-week high of C$30.20.

Parex Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 15th were paid a dividend of $0.3850 per share. The ex-dividend date was Tuesday, September 8th. This represents a $1.54 annualized dividend and a dividend yield of 5.3%. Parex Resources’s dividend payout ratio (DPR) is currently 18.57%.

Analyst Upgrades and Downgrades

Separately, Scotiabank increased their price target on Parex Resources from C$29.00 to C$30.00 and gave the company a “sector perform” rating in a report on Thursday, August 13th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Parex Resources has a consensus rating of “Hold” and a consensus target price of C$26.62.

Parex Resources Company Profile

Parex is the largest independent oil and gas company in Colombia, focusing on sustainable conventional production. The Company’s corporate headquarters are in Calgary, Canada, with an operating office in Bogota, Colombia.