Parex Resources Inc. (TSE:PXT) Senior Officer Imad Mohsen Acquires 1,120 Shares of Stock

Parex Resources Inc. (TSE:PXT) Senior Officer Imad Mohsen bought 1,120 shares of Parex Resources stock in a transaction on Tuesday, November 14th. The shares were purchased at an average cost of C$26.80 per share, for a total transaction of C$30,016.00.

Imad Mohsen also recently made the following trade(s):

• On Thursday, November 9th, Imad Mohsen purchased 115 shares of Parex Resources stock. The stock was purchased at an average cost of C$27.80 per share, with a total value of C$3,197.00.

Parex Resources Stock Down 1.6 %

TSE:PXT opened at C$27.03 on Wednesday. Parex Resources Inc. has a 52 week low of C$17.81 and a 52 week high of C$30.06. The stock’s fifty day moving average is C$25.49 and its two-hundred day moving average is C$26.43. The stock has a market capitalization of C$2.82 billion, a price-to-earnings ratio of 3.76, a price-to-earnings-growth ratio of 0.21 and a beta of 1.68. The company has a quick ratio of 1.45, a current ratio of 0.81 and a debt-to-equity ratio of 0.34.

Parex Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 5.55%. The ex-dividend date is Thursday, December 14th. Parex Resources’s payout ratio is 20.89%.

Analyst Ratings Changes

PXT has been the topic of a number of recent analyst reports. BMO Capital Markets decreased their price objective on Parex Resources from C$35.00 to C$34.00 in a report on Monday, October 16th. Canaccord Genuity Group upped their price target on Parex Resources from C$33.00 to C$34.00 in a research note on Thursday, October 26th. Stifel Nicolaus cut their price objective on Parex Resources from C$39.00 to C$37.50 and set a “buy” rating for the company in a research report on Monday, October 16th. Finally, Royal Bank of Canada upgraded shares of Parex Resources from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from C$30.00 to C$33.00 in a report on Thursday, November 9th.

About Parex Resources

Parex Resources Inc engages in the exploration, development, production, and marketing of oil and natural gas in Colombia. The company's principal land holdings and exploration blocks are in Colombia Llanos and Magdalena Basin. It has 55% working interest in Block LLA-34; 100% working interest in Cabrestero Block; and 50% working interest in Capachos Block and Block VIM-1.