Parex Resources Inc. (TSE:PXT – Get Rating) declared a quarterly dividend on Thursday, February 2nd, Zacks reports. Stockholders of record on Wednesday, March 15th will be paid a dividend of 0.375 per share on Friday, March 31st. This represents a $1.50 dividend on an annualized basis and a dividend yield of 6.52%. The ex-dividend date of this dividend is Tuesday, March 14th. This is an increase from Parex Resources's previous quarterly dividend of $0.25.

Parex Resources Stock Performance

Shares of Parex Resources stock traded up C$0.72 during trading on Friday, reaching C$23.02. The company's stock had a trading volume of 622,936 shares, compared to its average volume of 520,521. The company has a 50-day moving average price of C$20.30 and a two-hundred day moving average price of C$20.67. The firm has a market cap of C$2.51 billion and a PE ratio of 4.31. Parex Resources has a fifty-two week low of C$17.81 and a fifty-two week high of C$30.44. The company has a current ratio of 1.60, a quick ratio of 1.45 and a debt-to-equity ratio of 0.47.

Parex Resources (TSE:PXT – Get Rating) last announced its earnings results on Thursday, November 3rd. The company reported C$0.77 EPS for the quarter, missing analysts' consensus estimates of C$1.41 by C($0.64). The firm had revenue of C$528.94 million for the quarter. On average, analysts forecast that Parex Resources will post 6.6803584 EPS for the current year.

Insider Buying and Selling

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Barclays set a C$29.00 price objective on shares of Parex Resources and gave the company an "overweight" rating in a research note on Wednesday, January 18th. Haywood Securities dropped their price objective on shares of Parex Resources from C$36.00 to C$30.00 in a research note on Friday, November 11th. Royal Bank of Canada set a C$28.00 price objective on shares of Parex Resources and gave the company an "outperform" rating in a research note on Friday, December 30th. Scotiabank boosted their price objective on shares of Parex Resources from C$24.00 to C$26.00 in a research note on Friday. Finally, Stifel Nicolaus upped their price target on shares of Parex Resources from C$30.00 to C$31.00 in a research note on Monday, January 16th.

Parex Resources Company Profile

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Parex Resources Inc engages in the exploration, development, production of oil and natural gas in Colombia. The company holds interests in onshore exploration and production blocks totaling approximately 6,521,632 gross acres. As of December 31, 2021, it had proved plus probable reserves of 198,825 million barrels of oil equivalent.

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