Parex Resources Inc. (OTCMKTS:PARXF – Get Free Report) shares dropped 3.4% during trading on Thursday. The stock traded as low as $19.6375 and last traded at $19.67. Approximately 28,935 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 98,961 shares. The stock had previously closed at $20.37.
Analysts Set New Price Targets
Separately, Scotiabank reaffirmed a “sector perform” rating on shares of Parex Resources in a research report on Monday, October 19th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy”.
Get Our Latest Report on PARXF
Parex Resources Price Performance
The business’s 50-day moving average price is $20.08 and its 200-day moving average price is $18.12.
About Parex Resources
Parex Resources Inc is a Canadian oil and gas exploration, development and production company focused primarily on conventional crude oil assets in Colombia. The company’s activities include identifying prospective oil resources, drilling and developing wells, and producing and marketing crude oil.
Parex’s operations have historically been concentrated in Colombia’s Llanos and Middle Magdalena basins, established oil-producing regions with additional exploration and development potential.
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