Shares of Parex Resources Inc. (TSE:PXT) have been assigned a consensus rating of “Buy” from the eight ratings firms that are presently covering the stock, reports. Five investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is C$21.69.

Several equities research analysts have issued reports on the company. Eight Capital dropped their target price on Parex Resources from C$24.50 to C$22.00 in a research report on Wednesday, September 27th. Scotiabank reiterated a “focus stock” rating and issued a C$23.00 price target on shares of Parex Resources in a research report on Friday.

Shares of Parex Resources (TSE PXT) traded up 0.73% on Wednesday, hitting $15.16. The company had a trading volume of 548,989 shares. Parex Resources has a 1-year low of $12.19 and a 1-year high of $18.22. The firm has a market capitalization of $2.34 billion and a price-to-earnings ratio of 522.76. The company has a 50 day moving average price of $13.54 and a 200 day moving average price of $15.42.

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In other news, insider Eric Furlan bought 3,000 shares of the stock in a transaction on Wednesday, August 16th. The shares were acquired at an average cost of C$13.25 per share, for a total transaction of C$39,750.00. Insiders have purchased a total of 4,174 shares of company stock worth $55,728 in the last ninety days.

Parex Resources Company Profile

Parex Resources, Inc is a Canada-based oil and gas company. The Company is engaged in crude oil exploration, development and production in Colombia. The Company’s segments include Canada and Colombia. The Company, through its foreign subsidiaries, holds interests in onshore exploration and production blocks totaling approximately 1,870,120 gross acres.

Analyst Recommendations for Parex Resources (TSE:PXT)

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