Key Points
- Insider sale: Michael Kruchten sold 21,382 Parex Resources shares at an average price of C$29.21, generating approximately C$624,568. He retained 61,620 shares, reducing his ownership by 25.76%.
- Stock and dividend: Parex shares opened at C$29.25, near their 12-month high of C$30.20. The company pays a quarterly dividend of C$0.385 per share, equivalent to a 5.3% annualized yield.
- Analyst outlook: Scotiabank raised its price target to C$30 while maintaining a “sector perform” rating. Overall, analysts hold a consensus “Hold” rating with an average target of C$26.62.
Parex Resources Inc. (TSE:PXT - Get Free Report) insider Michael Kruchten sold 21,382 shares of Parex Resources stock in a transaction on Monday, October 19th. The shares were sold at an average price of C$29.21, for a total transaction of C$624,568.22. Following the completion of the transaction, the insider directly owned 61,620 shares in the company, valued at C$1,799,920.20. The trade was a 25.76% decrease in their ownership of the stock.
Parex Resources Stock Down 0.8%
PXT stock opened at C$29.25 on Wednesday. The company has a fifty day moving average price of C$27.89 and a 200 day moving average price of C$26.08. Parex Resources Inc. has a 12 month low of C$17.12 and a 12 month high of C$30.20. The company has a market cap of C$2.81 billion, a price-to-earnings ratio of 4.92, a price-to-earnings-growth ratio of 0.21 and a beta of 0.17. The company has a debt-to-equity ratio of 34.66, a current ratio of 0.88 and a quick ratio of 1.45.
Parex Resources Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 15th were given a dividend of $0.3850 per share. This represents a $1.54 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend was Tuesday, September 8th. Parex Resources's dividend payout ratio (DPR) is presently 18.57%.
Analyst Ratings Changes
Separately, Scotiabank lifted their price objective on shares of Parex Resources from C$29.00 to C$30.00 and gave the company a "sector perform" rating in a research note on Thursday, August 13th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of C$26.62.
Read Our Latest Report on Parex Resources
About Parex Resources
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Parex is the largest independent oil and gas company in Colombia, focusing on sustainable conventional production. The Company's corporate headquarters are in Calgary, Canada, with an operating office in Bogota, Colombia.
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