Parex Resources Inc. (TSE:PXT – Get Free Report) insider Cam Grainger bought 2,000 shares of the business’s stock in a transaction on Monday, August 24th. The shares were acquired at an average price of C$27.40 per share, with a total value of C$54,800.00. Following the completion of the purchase, the insider directly owned 43,584 shares of the company’s stock, valued at approximately C$1,194,201.60. The trade was a 4.81% increase in their ownership of the stock.
Parex Resources Trading Down 2.1%
Shares of PXT opened at C$27.50 on Tuesday. Parex Resources Inc. has a 52-week low of C$16.25 and a 52-week high of C$30.20. The business’s fifty day moving average is C$23.94 and its 200-day moving average is C$24.76. The company has a debt-to-equity ratio of 34.66, a quick ratio of 1.45 and a current ratio of 0.88. The firm has a market cap of C$2.64 billion, a price-to-earnings ratio of 4.62, a PEG ratio of 0.21 and a beta of 0.18.
Wall Street Analyst Weigh In
Separately, Scotiabank boosted their target price on 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. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$25.30.
About Parex Resources
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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