Parex Resources (TSE:PXT) Given a C$35.00 Price Target at ATB Cormark Capital Markets

Parex Resources (TSE:PXT) received a C$35.00 price objective from stock analysts at ATB Cormark Capital Markets in a research note issued on Monday, BayStreet reports. The firm currently has an “outperform” rating on the stock. ATB Cormark Capital Markets‘s target price would suggest a potential upside of 18.16% from the company’s current price.

Separately, Scotiabank raised their target price on shares of Parex Resources from C$29.00 to C$30.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 13th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Parex Resources presently has an average rating of “Moderate Buy” and an average target price of C$28.30.

Parex Resources Price Performance

PXT traded down C$0.51 on Monday, reaching C$29.62. 222,371 shares of the company’s stock were exchanged, compared to its average volume of 876,381. Parex Resources has a twelve month low of C$17.12 and a twelve month high of C$30.44. The stock has a market cap of C$2.85 billion, a PE ratio of 4.98, a P/E/G 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. The stock’s fifty day moving average price is C$28.09 and its 200-day moving average price is C$26.13.

Insiders Place Their Bets

In other news, insider Eric Furlan sold 8,000 shares of Parex Resources stock in a transaction on Thursday, October 22nd. The stock was sold at an average price of C$29.20, for a total transaction of C$233,600.00. Following the transaction, the insider owned 111,301 shares in the company, valued at C$3,249,989.20. The trade was a 6.71% decrease in their position. Also, insider Cam Grainger purchased 2,000 shares of the stock in a transaction dated Monday, August 24th. The shares were purchased at an average cost of C$27.40 per share, for a total transaction of C$54,800.00. Following the transaction, the insider owned 43,584 shares in the company, valued at approximately C$1,194,201.60. The trade was a 4.81% increase in their position. Corporate insiders own 1.64% of the company’s stock.

About Parex Resources

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.