Parex Resources (TSE:PXT) Price Target Raised to C$23.00 at Royal Bank Of Canada

Parex Resources (TSE:PXT) had its price objective raised by Royal Bank Of Canada from C$20.00 to C$23.00 in a research note released on Thursday morning,BayStreet.CA reports. They currently have a sector perform rating on the stock.

Other analysts also recently issued research reports about the stock. Jefferies Financial Group increased their target price on shares of Parex Resources from C$18.00 to C$20.50 in a research report on Monday, December 15th. Roth Mkm set a C$24.00 price target on shares of Parex Resources and gave the stock a “buy” rating in a research note on Friday, December 12th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$21.50.

Parex Resources Stock Down 0.5%

Shares of TSE PXT opened at C$22.64 on Thursday. Parex Resources has a 1 year low of C$10.30 and a 1 year high of C$23.31. The firm has a market cap of C$2.17 billion, a P/E ratio of 19.19, a price-to-earnings-growth ratio of 0.21 and a beta of 0.63. The firm’s 50 day moving average price is C$20.07 and its 200 day moving average price is C$18.76. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.45 and a current ratio of 0.99.

Parex Resources (TSE:PXT) last announced its quarterly earnings data on Wednesday, March 4th. The company reported C$0.43 EPS for the quarter. The business had revenue of C$223.53 million during the quarter. Parex Resources had a return on equity of 5.88% and a net margin of 10.97%.

Parex Resources Dividend Announcement

The company 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 was Monday, December 8th. This represents a $1.54 annualized dividend and a dividend yield of 6.8%. Parex Resources’s dividend payout ratio 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.