Insider Buying: Parex Resources (TSE:PXT) Director Purchases C$99,200.00 in Stock

Parex Resources Inc. (TSE:PXT) Director Sigmund Cornelius bought 5,000 shares of Parex Resources stock in a transaction dated Monday, November 9th. The stock was acquired at an average cost of C$19.84 per share, for a total transaction of C$99,200.00. Following the completion of the transaction, the director directly owned 57,916 shares in the company, valued at approximately C$1,149,053.44. This trade represents a 9.45% increase in their ownership of the stock.

Parex Resources Stock Up 5.3%

Shares of Parex Resources stock opened at C$20.70 on Thursday. 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 company has a 50-day moving average of C$27.23 and a 200 day moving average of C$25.34. The firm has a market cap of C$1.99 billion, a price-to-earnings ratio of 3.48, a PEG ratio of 0.21 and a beta of 0.25. Parex Resources Inc. has a 1 year low of C$17.12 and a 1 year high of C$30.44.

Parex Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 15th were paid a dividend of $0.3850 per share. The ex-dividend date of this dividend was Tuesday, September 8th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 7.4%. Parex Resources’s dividend payout ratio (DPR) is currently 18.57%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Scotiabank boosted their price target on 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. ATB Cormark Capital Markets set a C$35.00 price objective on Parex Resources and gave the company an “outperform” rating in a research report on Monday, October 26th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$28.30.

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.