Parex Resources (TSE:PXT) Stock Passes Above 200-Day Moving Average of $20.99

Shares of Parex Resources Inc (TSE:PXT) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $20.99 and traded as high as $22.09. Parex Resources shares last traded at $21.41, with a volume of 918,041 shares trading hands.

PXT has been the topic of a number of analyst reports. Royal Bank of Canada increased their target price on Parex Resources from C$24.00 to C$25.00 in a report on Monday, October 21st. Scotiabank boosted their price target on Parex Resources from C$29.00 to C$30.50 in a report on Tuesday, January 14th. Finally, National Bank Financial upped their price objective on Parex Resources from C$31.00 to C$33.00 and gave the company an “outperform” rating in a research report on Friday, February 7th.

The stock has a market cap of $3.14 billion and a price-to-earnings ratio of 11.03. The company has a current ratio of 2.43, a quick ratio of 2.35 and a debt-to-equity ratio of 0.14. The firm’s 50 day moving average is C$22.98 and its two-hundred day moving average is C$20.99.

In other Parex Resources news, Senior Officer Wayne Kim Foo sold 50,000 shares of Parex Resources stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of C$23.01, for a total value of C$1,150,625.00. Also, Director Curtis Darrell Bartlett sold 90,000 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of C$20.05, for a total value of C$1,804,500.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at C$200,500. Insiders have sold a total of 203,690 shares of company stock worth $4,428,878 over the last ninety days.

Parex Resources Company Profile (TSE:PXT)

Parex Resources Inc engages in the exploration, development, production, and marketing of oil and natural gas in Colombia. The company holds interests in onshore exploration and production blocks totaling approximately 2,037,753 gross acres. As of December 31, 2018, it had proved plus probable reserves of 184.674 million barrels of oil equivalent.

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