Parex Resources (TSE:PXT) PT Raised to C$34.50

Parex Resources (TSE:PXT) had its target price lifted by analysts at Eight Capital from C$34.00 to C$34.50 in a research note issued on Tuesday, BayStreet.CA reports. Eight Capital’s target price suggests a potential upside of 72.07% from the stock’s previous close.

Several other research analysts have also recently issued reports on PXT. Cormark upped their target price on shares of Parex Resources from C$30.00 to C$32.50 in a report on Tuesday, April 23rd. GMP Securities upped their target price on shares of Parex Resources from C$27.00 to C$28.50 in a report on Monday, February 11th.

Shares of Parex Resources stock opened at C$20.05 on Tuesday. Parex Resources has a 12-month low of C$13.62 and a 12-month high of C$26.78. The company has a quick ratio of 1.22, a current ratio of 1.48 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $3.09 billion and a PE ratio of 7.68.

Parex Resources (TSE:PXT) last issued its earnings results on Tuesday, May 7th. The company reported C$0.70 earnings per share (EPS) for the quarter. The company had revenue of C$327.86 million during the quarter. As a group, research analysts expect that Parex Resources will post 2.6400002 earnings per share for the current year.

In other news, Director Paul David Wright sold 10,000 shares of the company’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of C$22.60, for a total value of C$226,000.00. Following the completion of the transaction, the director now owns 51,000 shares in the company, valued at approximately C$1,152,600.

Parex Resources Company Profile

Parex Resources Inc engages in the exploration, development, production, and marketing of oil and natural gas in Colombia. The company holds interests in onshore exploration and production blocks totaling approximately 2,037,753 gross acres. As of December 31, 2018, it had proved plus probable reserves of 184.674 million barrels of oil equivalent.

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