Parex Resources (PXT) PT Raised to C$32.25

Parex Resources (TSE:PXT) had its price target upped by analysts at Eight Capital from C$27.25 to C$32.25 in a note issued to investors on Monday. Eight Capital’s target price points to a potential upside of 71.54% from the stock’s current price.

Other analysts also recently issued reports about the stock. GMP Securities boosted their target price on shares of Parex Resources from C$27.00 to C$28.50 in a report on Monday. Haywood Securities reduced their target price on shares of Parex Resources from C$29.00 to C$28.00 in a report on Thursday, January 17th.

Shares of Parex Resources stock traded up C$0.05 during trading hours on Monday, reaching C$18.80. The company’s stock had a trading volume of 516,705 shares, compared to its average volume of 829,919. Parex Resources has a one year low of C$13.62 and a one year high of C$26.78. The company has a market cap of $2.91 billion and a PE ratio of 7.38.

About Parex Resources

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 1,574,279 gross acres. As of December 31, 2017, it had proved plus probable reserves of 162.236 million barrels of oil equivalent.

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