Parex Resources Inc. (PXT) To Go Ex-Dividend on June 10th

Parex Resources Inc. (TSE:PXT) announced a quarterly dividend on Wednesday, May 8th, Zacks reports. Investors of record on Monday, June 10th will be paid a dividend of 0.385 per share on Monday, June 17th. This represents a $1.54 dividend on an annualized basis and a yield of 6.33%. The ex-dividend date of this dividend is Monday, June 10th. This is a positive change from Parex Resources’s previous quarterly dividend of $0.38.

Parex Resources Price Performance

PXT traded down C$0.29 during midday trading on Friday, reaching C$24.31. 62,298 shares of the company’s stock were exchanged, compared to its average volume of 532,494. The business’s 50-day moving average price is C$22.51 and its 200 day moving average price is C$23.81. Parex Resources has a 1-year low of C$20.17 and a 1-year high of C$30.06. The stock has a market capitalization of C$2.51 billion, a PE ratio of 4.16, a P/E/G ratio of 0.21 and a beta of 1.59. The company has a debt-to-equity ratio of 4.93, a current ratio of 1.31 and a quick ratio of 1.45.

Parex Resources (TSE:PXT) last posted its quarterly earnings results on Thursday, February 29th. The company reported C$1.74 earnings per share for the quarter, topping analysts’ consensus estimates of C$1.42 by C$0.32. The company had revenue of C$508.73 million for the quarter. Parex Resources had a net margin of 39.26% and a return on equity of 25.03%. As a group, equities analysts anticipate that Parex Resources will post 5.8679707 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on PXT shares. TD Securities cut their target price on shares of Parex Resources from C$28.70 to C$27.20 in a research note on Tuesday, January 16th. Scotiabank decreased their price objective on Parex Resources from C$28.00 to C$27.00 and set a “sector perform” rating for the company in a report on Friday, March 1st. Stifel Nicolaus decreased their target price on Parex Resources from C$32.75 to C$31.00 and set a “buy” rating on the stock in a report on Monday, March 4th. Finally, Royal Bank of Canada dropped their price target on Parex Resources from C$32.00 to C$28.00 and set an “outperform” rating on the stock in a research report on Friday, March 1st.

Insider Buying and Selling

In other news, Senior Officer Imad Mohsen acquired 9,500 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was purchased at an average cost of C$21.10 per share, for a total transaction of C$200,450.00. 1.54% of the stock is owned by company insiders.

Parex Resources Company Profile

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.