Parex Resources (TSE:PXT) had its price target hoisted by equities research analysts at Scotiabank from C$24.00 to C$26.00 in a research note issued to investors on Wednesday. The firm currently has a “focus stock” rating on the stock. Scotiabank’s price objective indicates a potential upside of 57.48% from the company’s current price.

A number of other equities analysts also recently weighed in on the stock. Eight Capital dropped their price target on shares of Parex Resources from C$24.50 to C$22.00 in a research note on Wednesday, September 27th. Royal Bank of Canada upped their price target on shares of Parex Resources from C$20.00 to C$24.00 and gave the stock an “outperform” rating in a research note on Friday, November 10th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of C$23.44.

Parex Resources (PXT) traded down C$0.02 on Wednesday, hitting C$16.51. The stock had a trading volume of 314,046 shares, compared to its average volume of 381,335. Parex Resources has a one year low of C$12.19 and a one year high of C$18.46.

In other Parex Resources news, insider Wayne Kim Foo sold 300,000 shares of the stock in a transaction 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. Also, Director Paul David Wright sold 10,000 shares of the stock in a transaction on Friday, November 10th. The stock was sold at an average price of C$18.03, for a total transaction of C$180,300.00. Insiders have sold 318,842 shares of company stock worth $5,138,802 over the last three months.

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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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