Parex Resources (PXT) Trading Up -0.1%
Parex Resources Inc. (TSE:PXT)’s share price was up 0.1% on Wednesday . The stock traded as high as C$16.65 and last traded at C$16.41. Approximately 425,035 shares traded hands during trading, an increase of 11% from the average daily volume of 382,299 shares. The stock had previously closed at C$16.43.
Several equities analysts have recently weighed in on PXT shares. Eight Capital increased their price target on Parex Resources from C$23.00 to C$30.00 in a report on Monday, December 11th. Scotiabank increased their price target on Parex Resources from C$24.00 to C$26.00 and gave the company a “focus stock” rating in a report on Wednesday, December 13th. Finally, Royal Bank of Canada increased their price target on Parex Resources from C$20.00 to C$24.00 and gave the company an “outperform” rating in a report on Friday, November 10th. Five 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 price target of C$23.44.
In other news, insider Wayne Kim Foo sold 300,000 shares of the company’s stock in a transaction on Friday, October 13th. The stock was sold at an average price of C$16.00, for a total value of C$4,800,000.00. Also, Director Paul David Wright sold 10,000 shares of the company’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of C$18.03, for a total value of C$180,300.00. Insiders sold a total of 318,842 shares of company stock valued at $5,138,802 over the last 90 days.
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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.
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