Parex Resources Inc. (TSE:PXT – Get Free Report) insider Imad Mohsen bought 24,250 shares of the company’s stock in a transaction dated Tuesday, July 7th. The shares were acquired at an average price of C$20.61 per share, for a total transaction of C$499,792.50. Following the acquisition, the insider owned 165,410 shares in the company, valued at approximately C$3,409,100.10. This represents a 17.18% increase in their position.
Imad Mohsen also recently made the following trade(s):
- On Thursday, May 14th, Imad Mohsen purchased 14,600 shares of Parex Resources stock. The stock was acquired at an average price of C$27.37 per share, with a total value of C$399,602.00.
Parex Resources Stock Up 2.0%
Shares of TSE:PXT traded up C$0.41 on Tuesday, hitting C$21.10. 1,902,307 shares of the company traded hands, compared to its average volume of 940,081. The company has a market cap of C$2.03 billion, a PE ratio of 11.41, a PEG ratio of 0.21 and a beta of 0.19. The stock has a 50 day simple moving average of C$25.48 and a 200-day simple moving average of C$23.41. Parex Resources Inc. has a 52 week low of C$14.08 and a 52 week high of C$30.20. The company has a quick ratio of 1.45, a current ratio of 1.49 and a debt-to-equity ratio of 9.51.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on PXT. Royal Bank Of Canada upped their price target on shares of Parex Resources from C$28.00 to C$32.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 8th. Scotiabank lifted their target price on Parex Resources from C$20.00 to C$29.00 and gave the company a “sector perform” rating in a research report on Monday, June 22nd. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$25.10.
Read Our Latest Stock Analysis on PXT
Parex Resources Company Profile
Parex Resources Inc engages in exploration, development, and production of crude oil. The company brings technology utilized in the Western Canada Sedimentary Basin to South American basins with large oil-in-place potential. Majority of the company’s properties are focused in Colombia, where it pays a royalty or tax to the government for its operations. Parex depends on a team of geologists and geophysicists, in partnership with technologies such as 3D seismic surveying, to help exploration efforts.
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