Q3 2017 Earnings Estimate for Parex Resources Inc. Issued By Cormark (PXT)
Parex Resources Inc. (TSE:PXT) – Cormark decreased their Q3 2017 EPS estimates for shares of Parex Resources in a report issued on Friday. Cormark analyst G. Ursu now expects that the company will post earnings of $0.28 per share for the quarter, down from their prior estimate of $0.30. Cormark also issued estimates for Parex Resources’ Q1 2018 earnings at $0.38 EPS, Q2 2018 earnings at $0.39 EPS, Q3 2018 earnings at $0.41 EPS, Q4 2018 earnings at $0.44 EPS, FY2018 earnings at $1.61 EPS and FY2019 earnings at $2.05 EPS.
Several other equities analysts have also commented on PXT. Scotiabank reissued a “focus stock” rating and set a C$23.00 price target on shares of Parex Resources in a research report on Friday, September 29th. Eight Capital dropped their price objective on Parex Resources from C$24.50 to C$22.00 in a report on Wednesday, September 27th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of C$21.69.
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Shares of Parex Resources (TSE PXT) opened at 16.20 on Monday. Parex Resources has a 1-year low of $12.19 and a 1-year high of $18.22. The stock has a market capitalization of $2.50 billion and a price-to-earnings ratio of 558.62. The company’s 50 day moving average is $14.38 and its 200-day moving average is $15.33.
In other news, insider Eric Furlan acquired 3,000 shares of the firm’s stock in a transaction on Wednesday, August 16th. The shares were purchased at an average cost of C$13.25 per share, for a total transaction of C$39,750.00. Also, insider Wayne Kim Foo sold 300,000 shares of the stock in a transaction on Friday, October 13th. The shares were sold at an average price of C$16.00, for a total value of C$4,800,000.00. In the last ninety days, insiders acquired 4,174 shares of company stock valued at $55,728.
Parex Resources Company Profile
Parex Resources, Inc is a Canada-based oil and gas company. The Company is engaged in crude oil exploration, development and production in Colombia. The Company’s segments include Canada and Colombia. The Company, through its foreign subsidiaries, holds interests in onshore exploration and production blocks totaling approximately 1,870,120 gross acres.
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