Parex Resources (TSE:PXT) had its price target upped by investment analysts at Eight Capital from C$23.00 to C$30.00 in a report released on Monday. Eight Capital’s price objective suggests a potential upside of 84.62% from the company’s current price.

A number of other research analysts also recently commented on the stock. Scotiabank reiterated a “focus stock” rating and set a C$24.00 price objective on shares of Parex Resources in a research note on Thursday, November 23rd. Royal Bank Of Canada raised their price target on shares of Parex Resources from C$20.00 to C$24.00 and gave the stock an “outperform” rating in a research report on Friday, November 10th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Parex Resources currently has a consensus rating of “Buy” and an average target price of C$23.19.

Parex Resources (TSE:PXT) traded up C$0.26 during midday trading on Monday, reaching C$16.25. 529,362 shares of the company’s stock were exchanged, compared to its average volume of 381,812. Parex Resources has a 12-month low of C$12.19 and a 12-month high of C$18.46.

In other news, Director Ronald Douglas Miller acquired 3,100 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The shares were purchased at an average cost of C$17.00 per share, for a total transaction of C$52,700.00. Also, Director Paul David Wright sold 10,000 shares of Parex Resources stock in a transaction dated Friday, November 10th. The shares were sold at an average price of C$18.03, for a total transaction of C$180,300.00. Over the last quarter, insiders sold 318,842 shares of company stock worth $5,138,802.

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About Parex Resources

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.

Analyst Recommendations for Parex Resources (TSE:PXT)

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