Parex Resources Inc. (TSE:PXT) had its price objective upped by Royal Bank of Canada from C$20.00 to C$21.00 in a research report released on Wednesday. Royal Bank of Canada currently has an outperform rating on the stock.

Several other analysts have also commented on the stock. Scotiabank reissued an outperform rating and set a C$19.00 price target on shares of Parex Resources in a research report on Tuesday, January 10th. TD Securities raised shares of Parex Resources from a hold rating to a buy rating and set a C$19.50 price target for the company in a research report on Wednesday, January 25th. Canaccord Genuity reissued a buy rating and set a C$22.00 price target on shares of Parex Resources in a research report on Thursday, March 2nd. CSFB increased their price target on shares of Parex Resources from C$18.25 to C$23.00 and gave the company an outperform rating in a research report on Tuesday, February 7th. Finally, CIBC increased their price target on shares of Parex Resources from C$17.50 to C$18.50 in a research report on Wednesday, February 8th. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Buy and an average target price of C$20.09.

Analyst Recommendations for Parex Resources (TSE:PXT)

Shares of Parex Resources (TSE:PXT) opened at 15.83 on Wednesday. The company’s market capitalization is $2.43 billion. Parex Resources has a 1-year low of $10.50 and a 1-year high of $18.22. The firm’s 50-day moving average is $16.20 and its 200-day moving average is $16.34.

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In related news, insider David Robert Taylor sold 12,000 shares of the stock in a transaction that occurred on Friday, February 10th. The shares were sold at an average price of C$16.65, for a total value of C$199,800.00. Also, Director Glenn Mcnamara purchased 4,780 shares of the business’s stock in a transaction that occurred on Monday, January 30th. The stock was acquired at an average price of C$15.79 per share, for a total transaction of C$75,476.20. In the last 90 days, insiders have sold 67,434 shares of company stock worth $1,080,892.

About Parex Resources

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.

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