Analysts Set Parex Resources Inc. (TSE:PXT) Price Target at $15.63
Shares of Parex Resources Inc. (TSE:PXT) have received a consensus recommendation of “Buy” from the thirteen analysts that are covering the firm. One analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is C$15.63.
Several equities analysts recently commented on the stock. TD Securities reaffirmed a “hold” rating and issued a C$12.50 price objective on shares of Parex Resources in a research report on Thursday, August 11th. Mackie increased their price objective on shares of Parex Resources from C$16.00 to C$16.75 and gave the company a “buy” rating in a research report on Thursday, August 11th. FirstEnergy Capital raised shares of Parex Resources from an “outperform” rating to a “top pick” rating in a research report on Tuesday, July 12th. Scotiabank reaffirmed an “outperform” rating and issued a C$14.50 price objective on shares of Parex Resources in a research report on Friday, July 8th. Finally, Paradigm Capital increased their price objective on shares of Parex Resources from C$14.00 to C$15.50 and gave the company a “buy” rating in a research report on Wednesday, June 8th.
Parex Resources (TSE:PXT) opened at 16.66 on Thursday. The firm’s 50-day moving average is $15.93 and its 200 day moving average is $13.48. The stock’s market cap is $2.54 billion. Parex Resources has a one year low of $7.74 and a one year high of $17.40.
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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