RBC Capital Keeps a Buy Rating on Parex Resources (PARXF)

RBC Capital analyst Luke Davis maintained a Buy rating on Parex Resources (PARXFResearch Report) on May 18 and set a price target of C$35.00. The company’s shares closed last Thursday at $20.38.

According to, Davis is a top 100 analyst with an average return of 44.1% and a 67.9% success rate. Davis covers the Utilities sector, focusing on stocks such as Tamarack Valley Energy, Headwater Exploration, and Gran Tierra Energy.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Parex Resources with a $30.16 average price target, a 53.2% upside from current levels. In a report issued on May 12, BMO Capital also maintained a Buy rating on the stock with a C$40.00 price target.

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Parex Resources’ market cap is currently $2.35B and has a P/E ratio of 8.20.

Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is neutral on the stock.

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Parex Resources, Inc. engages in the exploration, development, and production of crude oil. Its operates thorough the Canada and Colombia geographical segments. Its operating reserves include, Llanos, and lower and middle Magdalena. The company was founded on August 17, 2009 and is headquartered in Calgary, Canada.

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