Cormark Brokers Boost Earnings Estimates for Parex Resources Inc. (PXT)
Parex Resources Inc. (TSE:PXT) – Cormark increased their Q1 2017 EPS estimates for shares of Parex Resources in a report issued on Thursday. Cormark analyst G. Ursu now anticipates that the brokerage will earn $0.22 per share for the quarter, up from their previous forecast of $0.21. Cormark also issued estimates for Parex Resources’ Q3 2018 earnings at $0.45 EPS and FY2018 earnings at $1.73 EPS.
A number of other analysts have also recently issued reports on PXT. Scotiabank boosted their target price on Parex Resources from C$16.00 to C$17.50 and gave the stock an “outperform” rating in a report on Friday, November 11th. Mackie upped their price target on Parex Resources from C$16.00 to C$16.75 and gave the stock a “buy” rating in a report on Thursday, August 11th. FirstEnergy Capital upped their price target on Parex Resources from C$14.00 to C$17.00 in a report on Thursday, August 11th. Canaccord Genuity upped their price target on Parex Resources from C$15.00 to C$17.00 and gave the stock a “buy” rating in a report on Friday, August 19th. Finally, TD Securities upped their price target on Parex Resources from C$16.00 to C$17.00 and gave the stock a “hold” rating in a report on Monday, November 14th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Parex Resources currently has an average rating of “Buy” and a consensus target price of C$16.54.
Parex Resources (TSE:PXT) opened at 16.51 on Monday. The stock has a 50 day moving average of $16.31 and a 200 day moving average of $14.77. The stock’s market cap is $2.52 billion. Parex Resources has a 1-year low of $7.74 and a 1-year high of $17.94.
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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