Parex Resources (TSE:PXT) Issues Earnings Results

Parex Resources (TSE:PXT) issued its quarterly earnings data on Wednesday. The company reported C$0.43 earnings per share for the quarter, FiscalAI reports. The business had revenue of C$223.53 million during the quarter. Parex Resources had a net margin of 10.97% and a return on equity of 5.88%.

Parex Resources Trading Up 3.0%

Shares of Parex Resources stock opened at C$22.75 on Thursday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.45 and a current ratio of 0.99. The company has a market capitalization of C$2.18 billion, a P/E ratio of 19.28, a PEG ratio of 0.21 and a beta of 0.70. Parex Resources has a 1 year low of C$10.30 and a 1 year high of C$22.90. The company’s fifty day moving average is C$19.97 and its two-hundred day moving average is C$18.73.

Parex Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 15th were given a dividend of $0.385 per share. This represents a $1.54 annualized dividend and a yield of 6.8%. The ex-dividend date of this dividend was Monday, December 8th. Parex Resources’s dividend payout ratio (DPR) is presently 92.82%.

Wall Street Analysts Forecast Growth

PXT has been the subject of a number of research reports. Jefferies Financial Group boosted their price target on shares of Parex Resources from C$18.00 to C$20.50 in a research report on Monday, December 15th. Roth Mkm set a C$24.00 price objective on Parex Resources and gave the stock a “buy” rating in a report on Friday, December 12th. Finally, Royal Bank Of Canada cut their target price on Parex Resources from C$21.00 to C$20.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 13th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Parex Resources currently has an average rating of “Moderate Buy” and a consensus target price of C$20.90.

Parex Resources Company Profile

Parex Resources Inc engages in exploration, development, and production of crude oil. The company brings technology utilized in the Western Canada Sedimentary Basin to South American basins with large oil-in-place potential. Majority of the company’s properties are focused in Colombia, where it pays a royalty or tax to the government for its operations. Parex depends on a team of geologists and geophysicists, in partnership with technologies such as 3D seismic surveying, to help exploration efforts.