Parex Resources Inc. (TSE:PXT – Get Rating) – Research analysts at Stifel Firstegy dropped their FY2022 earnings per share (EPS) estimates for Parex Resources in a research report issued on Thursday, January 5th. Stifel Firstegy analyst C. Kwong now forecasts that the company will earn $5.58 per share for the year, down from their previous forecast of $5.62. The consensus estimate for Parex Resources' current full-year earnings is $6.68 per share. Stifel Firstegy also issued estimates for Parex Resources' FY2023 earnings at $3.62 EPS.
Get Parex Resources alerts:A number of other equities analysts also recently issued reports on PXT. Stifel Nicolaus decreased their price objective on Parex Resources from C$35.00 to C$30.00 in a report on Wednesday, December 7th. Scotiabank reduced their price target on Parex Resources from C$29.00 to C$24.00 in a report on Wednesday, November 23rd. Haywood Securities dropped their price objective on Parex Resources from C$36.00 to C$30.00 in a research report on Friday, November 11th. Royal Bank of Canada set a C$28.00 price objective on Parex Resources and gave the company an "outperform" rating in a research report on Friday, December 30th. Finally, BMO Capital Markets dropped their target price on Parex Resources from C$32.00 to C$30.00 in a research report on Tuesday, December 13th.
Parex Resources Stock Performance
Shares of PXT stock opened at C$20.10 on Monday. The stock has a fifty day moving average of C$19.44 and a 200 day moving average of C$20.54. Parex Resources has a 52 week low of C$17.81 and a 52 week high of C$30.44. The firm has a market capitalization of C$2.19 billion and a price-to-earnings ratio of 3.76. The company has a quick ratio of 1.45, a current ratio of 1.60 and a debt-to-equity ratio of 0.47.Parex Resources (TSE:PXT – Get Rating) last issued its earnings results on Thursday, November 3rd. The company reported C$0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of C$1.41 by C($0.64). The business had revenue of C$528.94 million during the quarter.
Parex Resources Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Friday, December 30th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date was Wednesday, December 14th. Parex Resources's payout ratio is 10.99%.
Insiders Place Their Bets
In related news, Senior Officer Wayne Kim Foo bought 7,500 shares of the business's stock in a transaction dated Monday, October 17th. The shares were purchased at an average price of C$21.07 per share, with a total value of C$158,007.00. Following the transaction, the insider now owns 1,079,479 shares in the company, valued at approximately C$22,742,031.78. In related news, Director G.R. (Bob) Mac Dougall purchased 2,400 shares of Parex Resources stock in a transaction dated Tuesday, October 18th. The stock was purchased at an average cost of C$20.84 per share, with a total value of C$50,016.00. Following the transaction, the director now owns 17,138 shares in the company, valued at approximately C$357,155.92. Also, Senior Officer Wayne Kim Foo bought 7,500 shares of Parex Resources stock in a transaction that occurred on Monday, October 17th. The shares were acquired at an average cost of C$21.07 per share, for a total transaction of C$158,007.00. Following the completion of the transaction, the insider now directly owns 1,079,479 shares in the company, valued at C$22,742,031.78. Insiders have bought a total of 10,921 shares of company stock valued at $228,075 in the last quarter.
About Parex Resources
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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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