Cormark Boosts Parex Resources (TSE:PXT) Price Target to C$35.00
Parex Resources (TSE:PXT) had its target price upped by Cormark from C$32.50 to C$35.00 in a report published on Tuesday morning, BayStreet.CA reports.
Separately, Eight Capital boosted their target price on Parex Resources from C$34.00 to C$34.50 in a research report on Tuesday, June 11th.
Parex Resources stock opened at C$21.28 on Tuesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.22 and a current ratio of 1.48. Parex Resources has a 1-year low of C$13.62 and a 1-year high of C$26.78. The stock has a market capitalization of $2.96 billion and a P/E ratio of 8.15. The company has a 50 day simple moving average of C$20.82.
In other Parex Resources news, Senior Officer Wayne Kim Foo sold 166,623 shares of the business’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of C$21.46, for a total transaction of C$3,575,562.96. Following the sale, the insider now directly owns 1,633,740 shares in the company, valued at C$35,058,426.66. Also, Director Paul David Wright sold 10,000 shares of the business’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of C$22.60, for a total value of C$226,000.00. Following the sale, the director now owns 51,000 shares in the company, valued at C$1,152,600. Over the last quarter, insiders have sold 225,000 shares of company stock worth $4,824,331.
About Parex Resources
Parex Resources Inc engages in the exploration, development, production, and marketing of oil and natural gas in Colombia. The company holds interests in onshore exploration and production blocks totaling approximately 2,037,753 gross acres. As of December 31, 2018, it had proved plus probable reserves of 184.674 million barrels of oil equivalent.
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