Parex Resources (TSE:PXT) Insider Eric Furlan Sells 8,000 Shares of Stock

Parex Resources Inc. (TSE:PXT) insider Eric Furlan sold 8,000 shares of Parex Resources stock in a transaction that occurred on Thursday, October 22nd. The stock was sold at an average price of C$29.20, for a total transaction of C$233,600.00. Following the transaction, the insider directly owned 111,301 shares in the company, valued at C$3,249,989.20. This trade represents a 6.71% decrease in their ownership of the stock.

Parex Resources Trading Down 0.3%

Shares of PXT opened at C$29.18 on Friday. The firm has a market cap of C$2.81 billion, a price-to-earnings ratio of 4.90, a PEG ratio of 0.21 and a beta of 0.17. The company has a debt-to-equity ratio of 34.66, a quick ratio of 1.45 and a current ratio of 0.88. Parex Resources Inc. has a fifty-two week low of C$17.12 and a fifty-two week high of C$30.20. The firm has a 50 day moving average price of C$28.01 and a 200-day moving average price of C$26.11.

Parex Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 15th were given a $0.3850 dividend. This represents a $1.54 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date was Tuesday, September 8th. Parex Resources’s dividend payout ratio (DPR) is presently 18.57%.

Wall Street Analyst Weigh In

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

Parex Resources Company Profile

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.