Parex Resources (TSE:PXT) Stock Passes Above 200-Day Moving Average – Time to Sell?

Parex Resources Inc. (TSE:PXT) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$19.62 and traded as high as C$26.76. Parex Resources shares last traded at C$26.09, with a volume of 1,639,380 shares.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Jefferies Financial Group lifted their price target on Parex Resources from C$18.00 to C$20.50 in a research report on Monday, December 15th. Royal Bank Of Canada raised their target price on shares of Parex Resources from C$23.00 to C$28.00 and gave the company a “sector perform” rating in a research note on Friday, March 13th. Finally, Roth Mkm set a C$24.00 price target on shares of Parex Resources and gave the stock a “buy” rating in a report on Friday, December 12th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Parex Resources has a consensus rating of “Moderate Buy” and a consensus target price of C$22.50.

Parex Resources Stock Performance

The company has a 50 day simple moving average of C$22.40 and a 200-day simple moving average of C$19.73. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.11 and a quick ratio of 1.45. The stock has a market cap of C$2.59 billion, a P/E ratio of 10.28, a price-to-earnings-growth ratio of 0.21 and a beta of 0.63.

Parex Resources (TSE:PXT) last announced its quarterly earnings data on Wednesday, March 4th. The company reported C$0.43 EPS for the quarter. The firm had revenue of C$223.53 million for the quarter. Parex Resources had a return on equity of 13.39% and a net margin of 26.85%.

Parex Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 25th were given a dividend of $0.385 per share. This represents a $1.54 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date was Wednesday, March 18th. Parex Resources’s dividend payout ratio (DPR) is presently 42.29%.

Parex Resources Company Profile

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. Parex depends on a team of geologists and geophysicists, in partnership with technologies such as 3D seismic surveying, to help exploration efforts.