Parex Resources (TSE:PXT) Stock Price Breaks Above 200-Day Moving Average – Should You Sell?

Parex Resources Inc. (TSE:PXT) shares passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of C$25.95 and traded as high as C$27.00. Parex Resources shares last traded at C$26.83, with a volume of 492,261 shares trading hands.

Analysts Set New Price Targets

Separately, Scotiabank raised their price objective on shares of Parex Resources from C$29.00 to C$30.00 and gave the stock a “sector perform” rating in a report on Thursday, August 13th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Parex Resources has a consensus rating of “Hold” and a consensus target price of C$26.62.

Parex Resources Stock Up 0.4%

The stock has a market cap of C$2.59 billion, a PE ratio of 4.53, a P/E/G ratio of 0.21 and a beta of 0.13. The business has a 50 day moving average of C$26.90 and a 200-day moving average of C$25.96. The company has a current ratio of 0.88, a quick ratio of 1.45 and a debt-to-equity ratio of 34.66.

Parex Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 15th were issued a $0.3850 dividend. This represents a $1.54 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend was Tuesday, September 8th. Parex Resources’s payout ratio is presently 18.57%.

Insider Buying and Selling at Parex Resources

In other Parex Resources news, insider Cam Grainger bought 2,000 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was acquired at an average price of C$27.40 per share, for a total transaction of C$54,800.00. Following the completion of the purchase, the insider owned 43,584 shares of the company’s stock, valued at approximately C$1,194,201.60. This represents a 4.81% increase in their ownership of the stock. Also, insider Imad Mohsen bought 24,250 shares of the firm’s stock in a transaction dated Tuesday, July 7th. The shares were acquired at an average price of C$20.61 per share, with a total value of C$499,792.50. Following the purchase, the insider directly owned 165,410 shares of the company’s stock, valued at approximately C$3,409,100.10. This trade represents a 17.18% increase in their position. Company insiders own 1.64% of the company’s stock.

About Parex Resources

Parex is the largest independent oil and gas company in Colombia, focusing on sustainable conventional production. The Company’s corporate headquarters are in Calgary, Canada, with an operating office in Bogota, Colombia.