Q3 2017 EPS Estimates for Parex Resources Inc. Reduced by Cormark (PXT)
Parex Resources Inc. (TSE:PXT) – Stock analysts at Cormark decreased their Q3 2017 EPS estimates for shares of Parex Resources in a note issued to investors on Friday. Cormark analyst G. Ursu now expects that the company will earn $0.28 per share for the quarter, down from their prior forecast of $0.30. Cormark also issued estimates for Parex Resources’ Q1 2018 earnings at $0.38 EPS, Q2 2018 earnings at $0.39 EPS, Q3 2018 earnings at $0.41 EPS, Q4 2018 earnings at $0.44 EPS, FY2018 earnings at $1.61 EPS and FY2019 earnings at $2.05 EPS.
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Other equities research analysts also recently issued reports about the company. Eight Capital decreased their price objective on Parex Resources from C$24.50 to C$22.00 in a report on Wednesday, September 27th. Scotiabank reaffirmed a “focus stock” rating and set a C$23.00 price objective on shares of Parex Resources in a report on Thursday, October 12th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Parex Resources currently has an average rating of “Buy” and a consensus target price of C$21.69.
Parex Resources (TSE PXT) opened at 15.97 on Monday. The firm’s 50-day moving average price is $14.38 and its 200-day moving average price is $15.33. Parex Resources has a 12-month low of $12.19 and a 12-month high of $18.22. The company has a market cap of $2.47 billion and a P/E ratio of 550.69.
In other Parex Resources news, insider Wayne Kim Foo sold 300,000 shares of Parex Resources stock in a transaction that occurred on Friday, October 13th. The stock was sold at an average price of C$16.00, for a total transaction of C$4,800,000.00. Also, insider Eric Furlan acquired 3,000 shares of the firm’s stock in a transaction on Wednesday, August 16th. The shares were bought at an average cost of C$13.25 per share, for a total transaction of C$39,750.00. Insiders have acquired 4,174 shares of company stock worth $55,728 over the last ninety days.
About Parex Resources
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.
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