Imad Mohsen Acquires 14,600 Shares of Parex Resources (TSE:PXT) Stock

Parex Resources Inc. (TSE:PXT) insider Imad Mohsen bought 14,600 shares of Parex Resources stock in a transaction that occurred on Thursday, May 14th. The stock was purchased at an average cost of C$27.37 per share, with a total value of C$399,602.00. Following the completion of the acquisition, the insider directly owned 139,501 shares in the company, valued at C$3,818,142.37. This represents a 11.69% increase in their position.

Parex Resources Trading Up 0.5%

Shares of PXT opened at C$27.11 on Friday. The company has a debt-to-equity ratio of 9.51, a current ratio of 1.49 and a quick ratio of 1.45. Parex Resources Inc. has a 1 year low of C$12.56 and a 1 year high of C$30.20. The company has a 50 day simple moving average of C$26.52 and a two-hundred day simple moving average of C$21.76. The firm has a market cap of C$2.61 billion, a P/E ratio of 14.65, a price-to-earnings-growth ratio of 0.21 and a beta of 0.18.

Parex Resources (TSE:PXT) last announced its quarterly earnings data on Tuesday, May 12th. The company reported C$0.07 earnings per share (EPS) for the quarter. Parex Resources had a net margin of 19.59% and a return on equity of 9.34%. The business had revenue of C$284.35 million during the quarter.

Parex Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 25th were issued a dividend of $0.385 per share. This represents a $1.54 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend was Wednesday, March 18th. Parex Resources’s dividend payout ratio (DPR) is 60.30%.

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada increased their price objective on shares of Parex Resources from C$28.00 to C$32.00 and gave the company a “sector perform” rating in a report on Wednesday, April 8th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$23.30.

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.