Parex Resources (OTCMKTS:PARXF) Stock Breaks Below 200-Day Moving Average – Time to Sell?

Parex Resources Inc. (OTCMKTS:PARXF)’s stock price passed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $18.21 and traded as low as $17.0705. Parex Resources shares last traded at $17.12, with a volume of 79,587 shares traded.

Analyst Upgrades and Downgrades

Separately, Scotiabank restated a “sector perform” rating on shares of Parex Resources in a research report on Monday, October 19th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Parex Resources currently has an average rating of “Moderate Buy”.

Parex Resources Trading Down 7.4%

The business’s 50-day simple moving average is $19.96 and its 200-day simple moving average is $18.21.

About Parex Resources

Parex Resources Inc is a Canadian independent oil and gas exploration and production company headquartered in Calgary, Alberta. The company focuses primarily on the exploration, development and production of crude oil and natural gas in Colombia.

Parex’s operations are concentrated in Colombia’s Llanos and Middle Magdalena basins, where it holds interests in a portfolio of producing fields and exploration properties. Its activities include seismic evaluation, drilling, field development, production optimization and related infrastructure management.