Parex Resources Inc. (PXT) Given Consensus Recommendation of “Buy” by Analysts

Shares of Parex Resources Inc. (TSE:PXT) have received an average rating of “Buy” from the eight ratings firms that are covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is C$22.19.

Several brokerages have issued reports on PXT. Scotiabank reissued a “focus stock” rating and issued a C$24.00 price target on shares of Parex Resources in a report on Thursday, November 23rd. Royal Bank Of Canada boosted their price target on shares of Parex Resources from C$20.00 to C$24.00 and gave the company an “outperform” rating in a report on Friday, November 10th. Finally, Eight Capital lowered their price target on shares of Parex Resources from C$24.50 to C$22.00 in a report on Wednesday, September 27th.

In other news, insider Michael Kruchten sold 3,842 shares of the company’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of C$17.96, for a total value of C$69,002.32. Also, Director Ronald Douglas Miller bought 3,100 shares of the stock in a transaction dated Friday, November 17th. The stock was purchased at an average cost of C$17.00 per share, for a total transaction of C$52,700.00. In the last ninety days, insiders sold 318,842 shares of company stock worth $5,138,802.

Parex Resources (TSE:PXT) opened at C$16.25 on Monday. Parex Resources has a one year low of C$12.19 and a one year high of C$18.46.

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Parex Resources Company Profile

Parex Resources, Inc is a Canada-based oil and gas company. The Company is engaged in crude oil exploration, development and production in Colombia. The Company’s segments include Canada and Colombia. The Company, through its foreign subsidiaries, holds interests in onshore exploration and production blocks totaling approximately 1,870,120 gross acres.

Analyst Recommendations for Parex Resources (TSE:PXT)

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