In a report released today, Luke Davis from RBC Capital maintained a Buy rating on Parex Resources (PARXF – Research Report), with a price target of C$28.00. The company’s shares opened today at $14.91.
According to TipRanks, Davis is a top 100 analyst with an average return of 30.4% and a 58.33% success rate. Davis covers the Utilities sector, focusing on stocks such as Gran Tierra Energy, Parex Resources, and Athabasca Oil.
Parex Resources has an analyst consensus of Strong Buy, with a price target consensus of $21.03.
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PARXF market cap is currently $1.6B and has a P/E ratio of 3.75.
Based on the recent corporate insider activity of 42 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PARXF in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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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