Royal Bank Of Canada Boosts Parex Resources (TSE:PXT) Price Target to C$28.00

by · The Markets Daily

Parex Resources (TSE:PXT – Get Free Report) had its price target increased by analysts at Royal Bank Of Canada from C$23.00 to C$28.00 in a research note issued on Friday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s target price would suggest a potential upside of 6.83% from the company’s previous close.

Several other equities research analysts also recently weighed in on PXT. Roth Mkm set a C$24.00 price objective on Parex Resources and gave the company a “buy” rating in a report on Friday, December 12th. Jefferies Financial Group lifted their target price on shares of Parex Resources from C$18.00 to C$20.50 in a report on Monday, December 15th. 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, the stock has a consensus rating of “Moderate Buy” and an average target price of C$22.50.

Check Out Our Latest Research Report on PXT

Parex Resources Stock Up 1.9%

TSE:PXT traded up C$0.49 during midday trading on Friday, hitting C$26.21. 709,005 shares of the company were exchanged, compared to its average volume of 722,134. Parex Resources has a fifty-two week low of C$10.30 and a fifty-two week high of C$26.27. The company has a current ratio of 1.11, a quick ratio of 1.45 and a debt-to-equity ratio of 2.16. The company has a market capitalization of C$2.52 billion, a PE ratio of 10.00, a price-to-earnings-growth ratio of 0.21 and a beta of 0.63. The company has a fifty day simple moving average of C$20.64 and a 200 day simple moving average of C$19.03.

Parex Resources (TSE:PXT – Get Free Report) last announced its earnings results on Wednesday, March 4th. The company reported C$0.43 earnings per share (EPS) for the quarter. The firm had revenue of C$223.53 million during the quarter. Parex Resources had a return on equity of 13.39% and a net margin of 26.85%.

Parex Resources Company Profile

(Get Free Report)

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.

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