Key Points
- Insider buying: Parex Resources insider Imad Mohsen bought 24,250 shares on July 7 at C$20.61 each, spending about C$499,792.50. The purchase increased his direct stake by 17.18% to 165,410 shares.
- Recent additional purchase: Mohsen also bought 14,600 shares on May 14 at C$27.37 per share, indicating continued insider accumulation of the stock.
- Company and analyst backdrop: Parex Resources shares were up 2.0%, and analysts currently have a Moderate Buy consensus with a C$25.10 price target. The company recently reported C$0.07 EPS on revenue of C$284.35 million for the quarter.
Parex Resources Inc. (TSE:PXT - Get Free Report) insider Imad Mohsen purchased 24,250 shares of the firm's stock in a transaction dated Tuesday, July 7th. The shares were bought at an average cost of C$20.61 per share, for a total transaction of C$499,792.50. Following the completion of the purchase, the insider directly owned 165,410 shares of the company's stock, valued at C$3,409,100.10. The trade was a 17.18% increase in their ownership of the stock.
Imad Mohsen also recently made the following trade(s):
- On Thursday, May 14th, Imad Mohsen acquired 14,600 shares of Parex Resources stock. The stock was bought at an average price of C$27.37 per share, with a total value of C$399,602.00.
Parex Resources Stock Up 2.0%
TSE:PXT opened at C$21.10 on Wednesday. The stock's fifty day moving average price is C$25.48 and its two-hundred day moving average price is C$23.41. Parex Resources Inc. has a 52-week low of C$14.08 and a 52-week high of C$30.20. The company has a debt-to-equity ratio of 9.51, a quick ratio of 1.45 and a current ratio of 1.49. The company has a market cap of C$2.03 billion, a price-to-earnings ratio of 11.41, a P/E/G ratio of 0.21 and a beta of 0.19.
Parex Resources (TSE:PXT - Get Free Report) last announced its quarterly earnings data on Tuesday, May 12th. The company reported C$0.07 EPS for the quarter. The firm had revenue of C$284.35 million for the quarter. Parex Resources had a return on equity of 9.34% and a net margin of 19.59%.
Analyst Ratings Changes
A number of analysts recently commented on PXT shares. Royal Bank Of Canada lifted their price objective on Parex Resources from C$28.00 to C$32.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 8th. Scotiabank upped their target price on shares of Parex Resources from C$20.00 to C$29.00 and gave the company a "sector perform" rating in a research report on Monday, June 22nd. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of C$25.10.
Get Our Latest Stock Report 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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