Parex Resources (TSE:PXT) Shares Break Above 200 Day Moving Average – Here’s What Happened

Parex Resources Inc. (TSE:PXT)’s stock price passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of C$26.06 and traded as high as C$29.74. Parex Resources shares last traded at C$29.50, with a volume of 819,279 shares.

Analyst Ratings Changes

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

Parex Resources Trading Up 0.1%

The company has a 50-day moving average price of C$27.89 and a two-hundred day moving average price of C$26.08. The stock has a market cap of C$2.82 billion, a P/E ratio of 4.92, a P/E/G ratio of 0.21 and a beta of 0.17. The company has a current ratio of 0.88, a quick ratio of 1.45 and a debt-to-equity ratio of 34.66.

Parex Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 15th were issued a $0.3850 dividend. This represents a $1.54 annualized dividend and a dividend yield of 5.3%. The ex-dividend date was Tuesday, September 8th. Parex Resources’s dividend payout ratio (DPR) is 18.57%.

Insider Transactions at Parex Resources

In related news, insider Michael Kruchten sold 21,382 shares of the company’s stock in a transaction dated Monday, October 19th. The shares were sold at an average price of C$29.21, for a total transaction of C$624,568.22. Following the transaction, 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 position. Also, insider Cam Grainger purchased 2,000 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The shares were purchased at an average price of C$27.40 per share, for a total transaction 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. The trade was a 4.81% increase in their position. 1.64% of the stock is currently owned by insiders.

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.