Parex Resources Inc. (TSE:PXT)’s share price hit a new 52-week high on Friday . The company traded as high as C$19.34 and last traded at C$18.98, with a volume of 439164 shares changing hands. The stock had previously closed at C$18.51.
A number of equities analysts recently weighed in on PXT shares. Royal Bank of Canada raised their price objective on Parex Resources from C$20.00 to C$24.00 and gave the company an “outperform” rating in a report on Friday, November 10th. Scotiabank raised their price objective on Parex Resources from C$24.00 to C$26.00 and gave the company a “focus stock” rating in a report on Wednesday, December 13th. Finally, Eight Capital raised their price objective on Parex Resources from C$23.00 to C$30.00 in a report on Monday, December 11th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of C$23.56.
The firm has a market capitalization of $2,970.00, a price-to-earnings ratio of 46.29 and a beta of 0.63.
In other Parex Resources news, insider Eric Furlan sold 5,000 shares of Parex Resources stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of C$17.90, for a total value of C$89,500.00. Also, Director Paul David Wright sold 10,000 shares of Parex Resources stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of C$18.03, for a total value of C$180,300.00. Over the last three months, insiders have sold 18,842 shares of company stock worth $338,802.
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Parex Resources Company Profile
Parex Resources, Inc is a Canada-based oil and gas company. The Company is engaged in crude oil exploration, development and production in Colombia. The Company’s segments include Canada and Colombia. The Company, through its foreign subsidiaries, holds interests in onshore exploration and production blocks totaling approximately 1,870,120 gross acres.
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