Parex Resources Inc. (PXT) Rating Reiterated by Scotiabank
Parex Resources Inc. (CVE:PXT)‘s stock had its “focus stock” rating reissued by research analysts at Scotiabank in a report issued on Thursday. They presently have a C$24.00 target price on the stock.
A number of other equities research analysts have also recently weighed in on PXT. Eight Capital cut their price objective on shares of Parex Resources from C$24.50 to C$22.00 in a report on Wednesday, September 27th. Royal Bank Of Canada upped their price objective on shares of Parex Resources from C$20.00 to C$24.00 and gave the stock an “outperform” rating in a report on Friday, November 10th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Parex Resources currently has an average rating of “Buy” and a consensus price target of C$22.19.
Parex Resources has a 1-year low of C$5.66 and a 1-year high of C$9.65.
In other news, Director Ronald Douglas Miller purchased 3,100 shares of the business’s stock in a transaction dated Friday, November 17th. The shares were purchased at an average price of C$17.00 per share, for a total transaction of C$52,700.00. Also, insider Wayne Kim Foo sold 300,000 shares of the stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of C$16.00, for a total transaction of C$4,800,000.00. In the last quarter, insiders have sold 318,842 shares of company stock worth $5,138,802.
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Parex Resources Company Profile
Parex Resources Inc engages in the exploration, development, production, and marketing of oil and natural gas in South America. It holds interests in onshore exploration and production blocks totaling approximately 2,091,404 gross acres in Colombia. The company has proved plus probable reserves of 41.1 million barrels of oil equivalent.
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