Shares of Parex Resources Inc. (TSE:PXT) 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. The stock had previously closed at C$18.51.
PXT has been the subject of a number of research reports. Eight Capital reduced their target price on shares of Parex Resources from C$24.50 to C$22.00 in a report on Wednesday, September 27th. Scotiabank restated a “focus stock” rating and set a C$23.00 target price on shares of Parex Resources in a report on Friday, September 29th. Finally, Royal Bank of Canada raised 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 report on Friday, November 10th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Parex Resources has an average rating of “Buy” and an average target price of C$23.56.
The company has a market capitalization of $2,970.00, a price-to-earnings ratio of 46.85 and a beta of 0.63.
In related news, insider Eric Furlan sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The shares were 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 the company’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of C$18.03, for a total transaction of C$180,300.00. In the last 90 days, insiders sold 18,842 shares of company stock valued at $338,802.
About Parex Resources
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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