Scotiabank Analysts Give Parex Resources (PXT) a C$27.00 Price Target

Parex Resources (TSE:PXT) has been assigned a C$27.00 target price by stock analysts at Scotiabank in a note issued to investors on Thursday. The firm currently has a “focus stock” rating on the stock. Scotiabank’s price target would suggest a potential upside of 40.55% from the company’s current price.

PXT has been the topic of a number of other reports. Royal Bank of Canada upped their target price on shares of Parex Resources from C$20.00 to C$24.00 and gave the stock an “outperform” rating in a research note on Friday, November 10th. Eight Capital cut their target price on shares of Parex Resources from C$24.50 to C$22.00 in a research note on Wednesday, September 27th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Parex Resources presently has an average rating of “Buy” and a consensus price target of C$23.56.

Shares of Parex Resources (TSE PXT) opened at C$19.21 on Thursday. Parex Resources has a one year low of C$12.19 and a one year high of C$19.34. The firm has a market cap of $2,970.00, a P/E ratio of 46.85 and a beta of 0.63.

In related news, Director Paul David Wright sold 10,000 shares of the company’s 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. Also, Director Ronald Douglas Miller purchased 3,100 shares of the stock in a transaction that occurred on Friday, November 17th. The stock was acquired at an average cost of C$17.00 per share, with a total value of C$52,700.00. Insiders have sold 18,842 shares of company stock worth $338,802 over the last 90 days.

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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.

Analyst Recommendations for Parex Resources (TSE:PXT)

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