Parex Resources (TSE:PXT) Hits New 1-Year High – Should You Buy?
by Mitch Edgeman · The Markets DailyParex Resources Inc. (TSE:PXT – Get Free Report)’s share price reached a new 52-week high during mid-day trading on Friday . The company traded as high as C$19.78 and last traded at C$19.72, with a volume of 302777 shares changing hands. The stock had previously closed at C$19.17.
Analyst Ratings Changes
A number of equities research analysts have commented on PXT shares. Roth Capital set a C$24.00 price objective on shares of Parex Resources and gave the stock a “buy” rating in a report on Friday, December 12th. Scotiabank increased their price target on shares of Parex Resources from C$17.00 to C$20.00 and gave the company a “sector perform” rating in a research note on Thursday, October 9th. Royal Bank Of Canada dropped their price objective on shares of Parex Resources from C$21.00 to C$20.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 13th. Finally, Jefferies Financial Group upped their price objective on Parex Resources from C$18.00 to C$20.50 in a report on Monday, December 15th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Parex Resources presently has an average rating of “Moderate Buy” and an average price target of C$20.90.
View Our Latest Stock Report on PXT
Parex Resources Stock Performance
The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.45 and a current ratio of 1.18. The company has a market cap of C$1.91 billion, a price-to-earnings ratio of 16.62, a PEG ratio of 0.21 and a beta of 0.76. The firm’s 50-day moving average price is C$18.35 and its 200 day moving average price is C$17.44.
Parex Resources (TSE:PXT – Get Free Report) last announced its quarterly earnings data on Tuesday, November 4th. The company reported C$0.52 earnings per share for the quarter. Parex Resources had a net margin of 19.08% and a return on equity of 13.52%. The business had revenue of C$311.63 million for the quarter.
Parex Resources Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 15th were given a dividend of $0.385 per share. The ex-dividend date of this dividend was Monday, December 8th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 7.9%. Parex Resources’s dividend payout ratio (DPR) is currently 92.82%.
About Parex Resources
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.