Parex Resources (TSE:PXT) Insider Michael Kruchten Sells 21,382 Shares of Company Stock

Parex Resources Inc. (TSE:PXT) insider Michael Kruchten sold 21,382 shares of the company’s stock in a transaction on Monday, October 19th. The shares were sold at an average price of C$29.21, for a total transaction of C$624,568.22. Following the completion of the transaction, the insider owned 61,620 shares of the company’s stock, valued at approximately C$1,799,920.20. The trade was a 25.76% decrease in their position.

Parex Resources Trading Down 0.8%

TSE PXT opened at C$29.25 on Wednesday. The company has a debt-to-equity ratio of 34.66, a current ratio of 0.88 and a quick ratio of 1.45. The firm’s fifty day moving average price is C$27.89 and its 200 day moving average price is C$26.08. The company has a market capitalization of C$2.81 billion, a price-to-earnings ratio of 4.92, a price-to-earnings-growth ratio of 0.21 and a beta of 0.17. Parex Resources Inc. has a 12 month low of C$17.12 and a 12 month high of C$30.20.

Parex Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 15th were paid a $0.3850 dividend. This represents a $1.54 annualized dividend and a yield of 5.3%. The ex-dividend date was Tuesday, September 8th. Parex Resources’s dividend payout ratio is currently 18.57%.

Wall Street Analysts Forecast Growth

Separately, Scotiabank raised their price objective on Parex Resources from C$29.00 to C$30.00 and gave the stock a “sector perform” rating in a report on Thursday, August 13th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Parex Resources currently has a consensus rating of “Hold” and an average target price of C$26.62.

About Parex Resources

Parex is the largest independent oil and gas company in Colombia, focusing on sustainable conventional production. The Company’s corporate headquarters are in Calgary, Canada, with an operating office in Bogota, Colombia.