National Bank Financial Equities Analysts Lift Earnings Estimates for Parex Resources Inc (TSE:PXT)

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Parex Resources Inc (TSE:PXT) – Equities researchers at National Bank Financial upped their FY2020 EPS estimates for shares of Parex Resources in a research note issued on Wednesday, November 6th. National Bank Financial analyst J. Hunt now forecasts that the company will post earnings of $3.04 per share for the year, up from their previous forecast of $2.89. National Bank Financial has a “Outperform” rating and a $32.00 price objective on the stock.

Separately, Royal Bank of Canada boosted their price objective on Parex Resources from C$24.00 to C$25.00 in a research report on Monday, October 21st.

Shares of PXT stock opened at C$20.65 on Friday. The firm has a market capitalization of $2.77 billion and a P/E ratio of 9.87. Parex Resources has a twelve month low of C$13.62 and a twelve month high of C$23.51. The company has a quick ratio of 2.07, a current ratio of 2.15 and a debt-to-equity ratio of 0.15. The stock’s fifty day simple moving average is C$19.35 and its 200 day simple moving average is C$20.74.

In related news, Senior Officer Kenneth George Pinsky sold 20,000 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of C$21.20, for a total transaction of C$424,000.00. Following the sale, the insider now owns 320,000 shares in the company, valued at approximately C$6,784,000. Also, Director Paul David Wright sold 10,200 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of C$21.40, for a total value of C$218,296.32. Following the sale, the director now owns 40,800 shares in the company, valued at approximately C$873,185.28. Insiders have sold a total of 483,200 shares of company stock worth $10,642,411 in the last 90 days.

Parex Resources Company Profile

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 2,037,753 gross acres. As of December 31, 2018, it had proved plus probable reserves of 184.674 million barrels of oil equivalent.

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