Insider Selling: Parex Resources (TSE:PXT) Insider Sells 21,382 Shares of Company Stock

Parex Resources Inc. (TSE:PXT) insider Michael Kruchten sold 21,382 shares of the company’s stock in a transaction that occurred on Monday, October 19th. The shares were sold at an average price of C$29.21, for a total value of C$624,568.22. Following the sale, the insider directly owned 61,620 shares in the company, valued at approximately C$1,799,920.20. This represents a 25.76% decrease in their ownership of the stock.

Parex Resources Stock Performance

PXT traded down C$0.40 during trading hours on Tuesday, hitting C$29.10. 230,157 shares of the stock were exchanged, compared to its average volume of 884,155. The stock has a 50-day simple moving average of C$27.82 and a 200-day simple moving average of C$26.06. Parex Resources Inc. has a 12 month low of C$17.12 and a 12 month high of C$30.20. The stock has a market cap of C$2.80 billion, a price-to-earnings ratio of 4.89, a price-to-earnings-growth ratio of 0.21 and a beta of 0.17. The company has a debt-to-equity ratio of 34.66, a current ratio of 0.88 and a quick ratio of 1.45.

Parex Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 15th were issued a dividend of $0.3850 per share. This represents a $1.54 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend was Tuesday, September 8th. Parex Resources’s dividend payout ratio is 18.57%.

Analysts Set New Price Targets

Separately, Scotiabank raised their price target on shares of Parex Resources from C$29.00 to C$30.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 13th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of C$26.62.

Parex Resources Company Profile

Parex is the largest independent oil and gas company in Colombia, focusing on sustainable conventional production. The Company’s corporate headquarters are in Calgary, Canada, with an operating office in Bogota, Colombia.