Parex Resources (TSE:PXT) Hits New 52-Week High at $25.49

Parex Resources Inc. (TSE:PXT) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$25.49 and last traded at C$25.40, with a volume of 119983 shares trading hands. The stock had previously closed at C$24.93.

Several research firms have issued reports on PXT. Scotiabank upped their target price on shares of Parex Resources from C$32.00 to C$34.00 in a research note on Thursday, July 15th. National Bank Financial lowered their target price on shares of Parex Resources to C$34.00 and set an “outperform” rating on the stock in a research note on Thursday, August 5th. Royal Bank of Canada upgraded shares of Parex Resources from a “sector perform” rating to an “outperform” rating and upped their target price for the company from C$26.00 to C$28.00 in a research note on Thursday, September 2nd. Finally, National Bankshares lowered their target price on shares of Parex Resources from C$36.00 to C$34.00 and set an “outperform” rating on the stock in a research note on Thursday, August 5th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, Parex Resources has a consensus rating of “Buy” and an average price target of C$31.50.

The firm has a market capitalization of C$3.15 billion and a P/E ratio of 11.96. The firm has a 50-day moving average price of C$20.76 and a two-hundred day moving average price of C$21.25. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.29 and a quick ratio of 3.21.

Parex Resources (TSE:PXT) last released its quarterly earnings data on Wednesday, August 4th. The company reported C$0.88 earnings per share for the quarter, beating the consensus estimate of C$0.69 by C$0.19. The firm had revenue of C$303.87 million during the quarter. Sell-side analysts predict that Parex Resources Inc. will post 4.4899995 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 30th. Stockholders of record on Thursday, September 30th were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Tuesday, September 14th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.96%. Parex Resources’s payout ratio is 23.76%.

Parex Resources Company Profile (TSE:PXT)

Parex Resources Inc engages in the exploration, development, production, and marketing of oil and natural gas in Colombia. The company holds interests in onshore exploration and production blocks totaling approximately 2,323,941 gross acres. As of December 31, 2020, it had proved plus probable reserves of 194,491 million barrels of oil equivalent.

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