Canaccord Genuity Raises Parex Resources (PXT) Price Target to C$25.00

Parex Resources (TSE:PXT) had its price objective boosted by Canaccord Genuity from C$24.00 to C$25.00 in a research report report published on Wednesday.

Other equities research analysts also recently issued research reports about the stock. CIBC boosted their price objective on shares of Parex Resources from C$22.50 to C$25.00 in a research report on Tuesday, January 23rd. Scotiabank set a C$28.00 price objective on shares of Parex Resources and gave the company a focus stock rating in a research report on Tuesday, March 6th.

Shares of PXT stock opened at C$19.45 on Wednesday. Parex Resources has a 1 year low of C$12.19 and a 1 year high of C$19.86.



Parex Resources (TSE:PXT) last issued its quarterly earnings data on Monday, March 5th. The company reported C$0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.40 by C$0.04. Parex Resources had a net margin of 30.38% and a return on equity of 26.07%. The firm had revenue of C$203.93 million during the quarter, compared to the consensus estimate of C$250.52 million.

In other news, Director Robert John Engbloom sold 16,600 shares of the business’s stock in a transaction on Monday, March 19th. The shares were sold at an average price of C$18.01, for a total transaction of C$298,966.00. Also, insider David Robert Taylor acquired 5,500 shares of the business’s stock in a transaction dated Monday, March 19th. The shares were acquired at an average cost of C$17.76 per share, with a total value of C$97,680.00. In the last three months, insiders have bought 15,790 shares of company stock valued at $274,030 and have sold 262,948 shares valued at $4,731,887.

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Parex Resources Company Profile

Parex Resources, Inc is a Canada-based oil and gas company. The Company is engaged in crude oil exploration, development and production in Colombia. The Company’s segments include Canada and Colombia. The Company, through its foreign subsidiaries, holds interests in onshore exploration and production blocks totaling approximately 1,870,120 gross acres.

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