Parex Resources (PXT) Sets New 12-Month Low at $18.36

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Parex Resources Inc. (TSE:PXT) shares reached a new 52-week low on Wednesday . The company traded as low as C$18.36 and last traded at C$18.42, with a volume of 480315 shares trading hands. The stock had previously closed at C$19.20.

A number of research firms recently commented on PXT. Eight Capital lowered their price target on Parex Resources from C$39.50 to C$28.50 in a report on Thursday, August 9th. Royal Bank of Canada boosted their price target on Parex Resources from C$28.00 to C$30.00 and gave the stock an “outperform” rating in a report on Thursday, July 26th. Canaccord Genuity boosted their price target on Parex Resources from C$27.00 to C$31.50 in a report on Tuesday, July 10th. Cormark boosted their price target on Parex Resources from C$30.00 to C$33.50 in a report on Wednesday, June 27th. Finally, CIBC boosted their price target on Parex Resources from C$25.00 to C$30.00 in a report on Friday, May 18th.

Parex Resources (TSE:PXT) last released its quarterly earnings data on Wednesday, August 8th. The company reported C$1.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C$1.53 by C($0.01). Parex Resources had a return on equity of 26.07% and a net margin of 30.38%. The firm had revenue of C$312.03 million during the quarter, compared to the consensus estimate of C$272.12 million.

About Parex Resources (TSE:PXT)

Parex Resources Inc engages in the exploration, development, production, and marketing of oil and natural gas in Colombia. The company holds interests in onshore exploration and production blocks totaling approximately 1,574,279 gross acres. As of December 31, 2017, it had proved plus probable reserves of 162.236 million barrels of oil equivalent.

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