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.

TRADEMARK VIOLATION WARNING: This story was first posted by Dakota Financial News and is the sole property of of Dakota Financial News. If you are reading this story on another site, it was stolen and reposted in violation of United States and international trademark & copyright law. The original version of this story can be viewed at

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.

Receive News & Ratings for Parex Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parex Resources and related companies with's FREE daily email newsletter.

Leave a Reply