Parex Resources (TSE:PXT) had its price target increased by Cormark from C$32.50 to C$35.00 in a report issued on Tuesday, BayStreet.CA reports.

Separately, Eight Capital upped their price target on Parex Resources from C$34.00 to C$34.50 in a research note on Tuesday, June 11th.

Shares of TSE:PXT opened at C$21.28 on Tuesday. The firm has a market capitalization of $2.96 billion and a price-to-earnings ratio of 8.15. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.48 and a quick ratio of 1.22. The stock’s 50-day moving average price is C$20.82. Parex Resources has a 12 month low of C$13.62 and a 12 month high of C$26.78.

Parex Resources (TSE:PXT) last announced its quarterly earnings results on Tuesday, May 7th. The company reported C$0.70 EPS for the quarter. The firm had revenue of C$327.86 million for the quarter. As a group, research analysts predict that Parex Resources will post 2.5899998 EPS for the current year.

In other Parex Resources news, Senior Officer Wayne Kim Foo sold 33,377 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of C$21.12, for a total transaction of C$704,878.85. Following the completion of the sale, the insider now directly owns 1,658,740 shares in the company, valued at C$35,030,432.44. Also, Director Paul David Wright sold 10,000 shares of the company’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of C$22.60, for a total value of C$226,000.00. Following the sale, the director now owns 51,000 shares of the company’s stock, valued at C$1,152,600. Insiders have sold 225,000 shares of company stock valued at $4,824,331 over the last 90 days.

Parex Resources Company Profile

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 2,037,753 gross acres. As of December 31, 2018, it had proved plus probable reserves of 184.674 million barrels of oil equivalent.

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