Parex Resources Inc. (TSE:PXT) had its target price upped by Royal Bank Of Canada from C$17.50 to C$19.00 in a research note published on Wednesday morning. The brokerage currently has an outperform rating on the stock.

A number of other brokerages have also issued reports on PXT. Scotiabank restated an outperform rating and issued a C$16.00 target price on shares of Parex Resources in a research note on Thursday, August 11th. TD Securities restated a hold rating and issued a C$12.50 target price on shares of Parex Resources in a research note on Thursday, August 11th. Haywood Securities raised their target price on 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 raised their target price on 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 raised their target price on Parex Resources from C$15.00 to C$17.50 in a research note on Friday, August 12th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of Buy and an average price target of C$16.54.

Analyst Recommendations for Parex Resources (TSE:PXT)

Parex Resources (TSE:PXT) traded up 0.37% during trading on Wednesday, hitting $16.30. The stock had a trading volume of 206,323 shares. The company’s market cap is $2.48 billion. Parex Resources has a 52-week low of $7.74 and a 52-week high of $17.94. The firm’s 50-day moving average price is $16.31 and its 200-day moving average price is $14.52.

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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