Key Points
- Director Glenn McNamara bought 7,500 Parex shares at C$20.26 each, spending C$151,950 and increasing his direct holding by 33.34% to 29,998 shares.
- Other insiders also reported purchases on November 9, including Imad Mohsen’s acquisition of 24,870 shares. The article also notes Parex shares had recently fallen 16.8%.
- Parex’s quarterly dividend is C$0.385 per share, equivalent to an annualized C$1.54 and a 7.8% yield. Analysts’ consensus rating is “Moderate Buy,” with an average price target of C$28.30.
Parex Resources Inc. (TSE:PXT - Get Free Report) Director Glenn Mcnamara acquired 7,500 shares of the stock in a transaction dated Monday, November 9th. The stock was acquired at an average price of C$20.26 per share, for a total transaction of C$151,950.00. Following the completion of the acquisition, the director directly owned 29,998 shares of the company's stock, valued at C$607,759.48. The trade was a 33.34% increase in their ownership of the stock.
Parex Resources Stock Performance
Shares of PXT stock opened at C$19.81 on Tuesday. The company's fifty day simple moving average is C$27.59 and its 200-day simple moving average is C$25.33. The company has a quick ratio of 1.45, a current ratio of 0.88 and a debt-to-equity ratio of 34.66. The firm has a market cap of C$1.91 billion, a PE ratio of 3.33, a P/E/G ratio of 0.21 and a beta of 0.25. Parex Resources Inc. has a 12 month low of C$17.12 and a 12 month high of C$30.44.
Parex Resources Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 15th were paid a $0.3850 dividend. This represents a $1.54 annualized dividend and a yield of 7.8%. The ex-dividend date was Tuesday, September 8th. Parex Resources's payout ratio is presently 18.57%.
Analysts Set New Price Targets
PXT has been the topic of several analyst reports. ATB Cormark Capital Markets set a C$35.00 price target on shares of Parex Resources and gave the stock an "outperform" rating in a research report on Monday, October 26th. Scotiabank raised their price objective on Parex Resources from C$29.00 to C$30.00 and gave the company a "sector perform" rating in a report on Thursday, August 13th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of C$28.30.
Get Our Latest Stock Report on PXT
Parex Resources News Roundup
Here are the key news stories impacting Parex Resources this week:
- Positive Sentiment: Two directors and insider Imad Mohsen reported buying Parex shares on November 9. The largest disclosed purchases were 24,870 shares by Mohsen for about C$499,141 and a combined 12,500 shares by the two directors for about C$251,150. Insider buying can be a positive confidence signal. Insider transactions
- Negative Sentiment: A report said Parex shares had fallen 16.8%, indicating significant recent selling pressure. The headline does not provide a reason for the decline or further details on what investors may expect next. Parex Resources Stock Price Down 16.8% - What's Next?
About Parex Resources
(
Get Free Report)
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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