Key Points
- Insider purchase: Parex Resources insider Imad Mohsen bought 14,600 shares on May 14 at an average price of C$27.37, worth about C$399,602. The purchase increased his holdings by 11.69% to 139,501 shares.
- Recent performance and valuation: The stock opened at C$26.98 and has traded between C$12.17 and C$30.20 over the past year. Parex currently has a market cap of C$2.59 billion and a price-to-earnings ratio of 10.30.
- Other company updates: Parex reported quarterly EPS of C$0.07 on revenue of C$284.35 million and recently paid a quarterly dividend of C$0.385 per share, yielding 5.7% annually.
Parex Resources Inc. (TSE:PXT - Get Free Report) insider Imad Mohsen bought 14,600 shares of the stock in a transaction dated Thursday, May 14th. The stock was bought at an average cost of C$27.37 per share, with a total value of C$399,602.00. Following the purchase, the insider owned 139,501 shares in the company, valued at C$3,818,142.37. The trade was a 11.69% increase in their position.
Parex Resources Price Performance
PXT opened at C$26.98 on Friday. The company has a debt-to-equity ratio of 9.51, a current ratio of 1.49 and a quick ratio of 1.45. The stock's 50 day simple moving average is C$26.43 and its 200 day simple moving average is C$21.73. The firm has a market cap of C$2.59 billion, a price-to-earnings ratio of 10.30, a PEG ratio of 0.21 and a beta of 0.18. Parex Resources Inc. has a 1 year low of C$12.17 and a 1 year high of C$30.20.
Parex Resources (TSE:PXT - Get Free Report) last released its quarterly earnings data on Tuesday, May 12th. The company reported C$0.07 earnings per share for the quarter. Parex Resources had a return on equity of 9.34% and a net margin of 19.59%.The firm had revenue of C$284.35 million during the quarter.
Parex Resources Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 25th were given a $0.385 dividend. The ex-dividend date was Wednesday, March 18th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 5.7%. Parex Resources's payout ratio is presently 42.29%.
Analyst Upgrades and Downgrades
Separately, Royal Bank Of Canada raised their target price on Parex Resources from C$28.00 to C$32.00 and gave the stock a "sector perform" rating in a research note on Wednesday, April 8th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of C$23.30.
Get Our Latest Stock Analysis on Parex Resources
Parex Resources Company Profile
(
Get Free Report)
Parex Resources Inc engages in exploration, development, and production of crude oil. The company brings technology utilized in the Western Canada Sedimentary Basin to South American basins with large oil-in-place potential. Majority of the company's properties are focused in Colombia, where it pays a royalty or tax to the government for its operations. Parex depends on a team of geologists and geophysicists, in partnership with technologies such as 3D seismic surveying, to help exploration efforts.
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