Parex Resources (TSE:PXT) Sets New 52-Week High at $25.49

Parex Resources Inc. (TSE:PXT) shares reached a new 52-week high on Thursday . The company traded as high as C$25.49 and last traded at C$25.40, with a volume of 119983 shares changing hands. The stock had previously closed at C$24.93.

PXT has been the topic of a number of recent analyst reports. Scotiabank raised their price target on shares of Parex Resources from C$32.00 to C$34.00 in a research report on Thursday, July 15th. Royal Bank of Canada upgraded shares of Parex Resources from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from C$26.00 to C$28.00 in a research note on Thursday, September 2nd. National Bank Financial reduced their target price on shares of Parex Resources to C$34.00 and set an “outperform” rating for the company in a research note on Thursday, August 5th. Finally, National Bankshares reduced their target price on shares of Parex Resources from C$36.00 to C$34.00 and set an “outperform” rating for the company in a research note on Thursday, August 5th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Parex Resources has an average rating of “Buy” and an average price target of C$31.50.

The firm’s 50 day moving average is C$20.76 and its 200 day moving average is C$21.25. The company has a market cap of C$3.15 billion and a PE ratio of 11.96. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.29 and a quick ratio of 3.21.

Parex Resources (TSE:PXT) last issued its quarterly earnings data on Wednesday, August 4th. The company reported C$0.88 EPS for the quarter, beating the consensus estimate of C$0.69 by C$0.19. The firm had revenue of C$303.87 million for the quarter. As a group, analysts anticipate that Parex Resources Inc. will post 4.4899995 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 30th. Investors of record on Thursday, September 30th were paid a dividend of $0.125 per share. The ex-dividend date was Tuesday, September 14th. This represents a $0.50 annualized dividend and a yield of 1.96%. Parex Resources’s dividend payout ratio is currently 23.76%.

About Parex Resources (TSE:PXT)

Parex Resources Inc engages in the exploration, development, production, and marketing of oil and natural gas in Colombia. The company holds interests in onshore exploration and production blocks totaling approximately 2,323,941 gross acres. As of December 31, 2020, it had proved plus probable reserves of 194,491 million barrels of oil equivalent.

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