Parex Resources Inc. (PXT) Price Target Increased to C$17.50 by Analysts at Royal Bank Of Canada
Parex Resources Inc. (TSE:PXT) had its price objective raised by stock analysts at Royal Bank Of Canada from C$16.00 to C$17.50 in a research note issued to investors on Wednesday. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective points to a potential upside of 9.86% from the stock’s current price.
PXT has been the subject of a number of other reports. Haywood Securities increased their price target on Parex Resources from C$18.00 to C$21.00 and gave the company a “buy” rating in a research report on Tuesday, August 23rd. FirstEnergy Capital increased their price target on Parex Resources from C$14.00 to C$20.00 and gave the company a “top pick” rating in a research report on Monday, August 29th. Canaccord Genuity increased their price target on Parex Resources from C$15.00 to C$17.00 and gave the company a “buy” rating in a research report on Friday, August 19th. CIBC increased their price target on Parex Resources from C$15.00 to C$17.50 in a research report on Friday, August 12th. Finally, Dundee Securities increased their price target on Parex Resources from C$15.00 to C$16.00 in a research report on Friday, July 8th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of C$15.96.
Parex Resources (TSE:PXT) traded up 0.44% on Wednesday, hitting $16.00. The company had a trading volume of 31,077 shares. Parex Resources has a one year low of $7.74 and a one year high of $17.40. The stock has a 50 day moving average of $15.66 and a 200-day moving average of $13.32. The stock’s market capitalization is $2.44 billion.
About Parex Resources
Parex Resources Inc is a Colombian focused, international oil and gas exploration and development company, headquartered in Calgary, Canada and publically listed on the Toronto Stock Exchange (TSX:PXT). Since inception in 2009, Parex has achieved material reserves, production and land growth. The Company holds interest in multiple blocks over 2.63 million gross acres land position in the prolific Llanos Basin and the Magdalena Basins of Colombia.
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