Key Points
- Insider Cam Grainger bought 2,000 Parex Resources shares at C$27.40 each, investing C$54,800 and increasing his direct ownership by 4.81% to 43,584 shares.
- Parex shares opened at C$27.50, with the company valued at approximately C$2.64 billion and trading near the upper end of its C$16.25–C$30.20 12-month range.
- Analyst sentiment is moderately positive: Scotiabank raised its target to C$30.00 with a “sector perform” rating, while the broader analyst consensus is “Moderate Buy” with a C$25.30 price target.
Parex Resources Inc. (TSE:PXT - Get Free Report) insider Cam Grainger acquired 2,000 shares of Parex Resources stock in a transaction that occurred on Monday, August 24th. The shares were purchased at an average price of C$27.40 per share, for a total transaction of C$54,800.00. Following the transaction, the insider directly owned 43,584 shares in the company, valued at C$1,194,201.60. The trade was a 4.81% increase in their ownership of the stock.
Parex Resources Price Performance
Parex Resources stock opened at C$27.50 on Tuesday. The company has a current ratio of 0.88, a quick ratio of 1.45 and a debt-to-equity ratio of 34.66. The company has a market capitalization of C$2.64 billion, a PE ratio of 4.62, a P/E/G ratio of 0.21 and a beta of 0.18. Parex Resources Inc. has a 12 month low of C$16.25 and a 12 month high of C$30.20. The stock has a 50-day moving average price of C$23.94 and a two-hundred day moving average price of C$24.76.
Wall Street Analyst Weigh In
Separately, Scotiabank lifted their target price on shares of Parex Resources from C$29.00 to C$30.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 13th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of C$25.30.
Read Our Latest Stock Report on PXT
Parex Resources Company Profile
(
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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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