Scotiabank Raises Parex Resources Inc. (PXT) Price Target to C$17.50
Parex Resources Inc. (TSE:PXT) had its price objective increased by Scotiabank from C$16.00 to C$17.50 in a report issued on Friday, StockTargetPrices.com reports. The firm currently has an outperform rating on the stock.
Several other equities analysts have also recently commented on the stock. TD Securities reaffirmed a hold rating and set a C$12.50 price objective on shares of Parex Resources in a research note on Thursday, August 11th. Royal Bank Of Canada boosted their price target on shares of Parex Resources from C$16.00 to C$17.50 and gave the stock an outperform rating in a research note on Wednesday, September 28th. Haywood Securities boosted their price target on shares of Parex Resources from C$18.00 to C$21.00 and gave the stock a buy rating in a research note on Tuesday, August 23rd. FirstEnergy Capital boosted their price target on shares of Parex Resources from C$14.00 to C$20.00 and gave the stock a top pick rating in a research note on Monday, August 29th. Finally, CIBC boosted their price target on shares of Parex Resources from C$15.00 to C$17.50 in a research note on Friday, August 12th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of C$16.42.
Parex Resources (TSE:PXT) opened at 16.40 on Friday. The company has a 50-day moving average of $16.31 and a 200-day moving average of $14.51. Parex Resources has a 52 week low of $7.74 and a 52 week high of $17.94. The firm’s market cap is $2.50 billion.
Parex Resources Company Profile
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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