Cam Grainger Purchases 2,000 Shares of Parex Resources (TSE:PXT) Stock

by · The Cerbat Gem

Parex Resources Inc. (TSE:PXT – Get Free Report) insider Cam Grainger acquired 2,000 shares of Parex Resources stock in a transaction that occurred on Monday, August 24th. The stock was acquired at an average price of C$27.40 per share, with a total value of C$54,800.00. Following the completion of the acquisition, the insider directly owned 43,584 shares in the company, valued at C$1,194,201.60. This represents a 4.81% increase in their position.

Parex Resources Stock Performance

PXT traded down C$0.67 during midday trading on Monday, hitting C$27.43. 201,442 shares of the company traded hands, compared to its average volume of 910,183. The company’s 50-day moving average is C$23.89 and its 200 day moving average is C$24.71. The company has a quick ratio of 1.45, a current ratio of 0.88 and a debt-to-equity ratio of 34.66. The firm has a market capitalization of C$2.64 billion, a PE ratio of 4.61, a price-to-earnings-growth ratio of 0.21 and a beta of 0.18. Parex Resources Inc. has a 52 week low of C$16.25 and a 52 week high of C$30.20.

Analysts Set New Price Targets

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. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$25.30.

Check Out Our Latest Stock Report on PXT

About Parex Resources

(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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