Parex Resources (OTCMKTS:PARXF) Trading 1.8% Higher – What’s Next?

Parex Resources Inc. (OTCMKTS:PARXF)’s share price rose 1.8% on Friday . The stock traded as high as $14.20 and last traded at $14.13. Approximately 14,319 shares traded hands during trading, a decline of 71% from the average daily volume of 49,120 shares. The stock had previously closed at $13.88.

Analysts Set New Price Targets

Several brokerages have recently commented on PARXF. Roth Capital initiated coverage on Parex Resources in a research report on Friday, December 12th. They set a “buy” rating on the stock. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Parex Resources in a research report on Monday, September 29th. Finally, Scotiabank reaffirmed a “sector perform” rating on shares of Parex Resources in a research note on Thursday, October 9th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

Parex Resources Stock Up 1.8%

The firm’s 50 day moving average is $13.22 and its 200 day moving average is $12.58.

Parex Resources Company Profile

Parex Resources Inc is a Canada-based exploration and production company primarily engaged in the acquisition, development and production of oil resources. The company holds a portfolio of prolific onshore blocks in Colombia, targeting both light and medium crude oil. Parex employs a strategic exploration approach, integrating seismic studies and advanced drilling techniques to optimize reservoir development and enhance recovery rates.

Headquartered in Calgary, Alberta, Parex has focused its operations on Colombia’s Llanos Basin and the Caguan and Putumayo basins.