Parex Resources (TSE:PXT) Given a C$24.00 Price Target by Roth Capital Analysts

Roth Capital set a C$24.00 price target on Parex Resources (TSE:PXT) in a research report report published on Friday,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts have also recently commented on PXT. BMO Capital Markets raised shares of Parex Resources from a “hold” rating to an “outperform” rating and raised their target price for the stock from C$16.00 to C$20.00 in a research report on Monday, September 15th. Scotiabank raised their price objective on shares of Parex Resources from C$17.00 to C$20.00 and gave the stock a “sector perform” rating in a report on Thursday, October 9th. Finally, Royal Bank Of Canada upped their target price on Parex Resources from C$20.00 to C$21.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 7th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$21.25.

Parex Resources Trading Up 4.1%

PXT opened at C$18.01 on Friday. Parex Resources has a one year low of C$10.30 and a one year high of C$19.81. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.18 and a quick ratio of 1.45. The business has a 50 day simple moving average of C$18.34 and a two-hundred day simple moving average of C$16.77. The firm has a market capitalization of C$1.76 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 0.21 and a beta of 0.61.

Parex Resources (TSE:PXT) last posted its earnings results on Tuesday, November 4th. The company reported C$0.52 earnings per share (EPS) for the quarter. Parex Resources had a return on equity of 13.52% and a net margin of 19.08%.The firm had revenue of C$311.63 million for the quarter.

Parex Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 15th will be issued a dividend of $0.385 per share. This represents a $1.54 annualized dividend and a dividend yield of 8.6%. The ex-dividend date is Monday, December 8th. Parex Resources’s dividend payout ratio (DPR) is presently 92.82%.

About Parex Resources

Parex Resources Inc engages in exploration, development, and production of crude oil. The company brings technology utilized in the Western Canada Sedimentary Basin to South American basins with large oil-in-place potential. Majority of the company’s properties are focused in Colombia, where it pays a royalty or tax to the government for its operations.