The stock of Parex Resources Inc. (TSE:PXT) reached all time high today, Dec, 1 and still has $19.35 target or 8.00% above today’s $17.92 share price. This indicates more upside for the $3.04B company. This technical setup was reported by Barchart.com. If the $19.35 PT is reached, the company will be worth $243.20M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 94,372 shares traded hands. Parex Resources Inc. (TSE:PXT) has risen 44.36% since April 27, 2016 and is uptrending. It has outperformed by 38.44% the S&P500.
Parex Resources Inc. (TSE:PXT) Ratings Coverage
Out of 7 analysts covering Parex Resources Inc. (TSE:PXT), 6 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 86% are positive. $20 is the highest target while $10 is the lowest. The $16.58 average target is -7.48% below today’s ($17.92) stock price. Parex Resources Inc. has been the topic of 27 analyst reports since August 5, 2015 according to StockzIntelligence Inc. As per Friday, July 8, the company rating was maintained by Scotia Capital. The stock has “Outperform” rating given by Scotia Capital on Wednesday, August 5. The stock of Parex Resources Inc. (TSE:PXT) earned “Outperform” rating by FirstEnergy Capital on Friday, September 9. The company was upgraded on Thursday, February 18 by TD Securities. TD Securities maintained it with “Hold” rating and $12.50 target price in Friday, August 12 report. On Tuesday, August 25 the stock rating was maintained by Paradigm Research with “Buy”. Scotia Capital maintained the shares of PXT in a report on Friday, August 12 with “Outperform” rating.
Another recent and important Parex Resources Inc. (TSE:PXT) news was published by Seekingalpha.com which published an article titled: “Parex Resources: Heavily Undervalued Offering 98% Upside” on May 09, 2016.
Parex Resources, Inc. is a Canada-based gas and oil company. The company has a market cap of $3.04 billion. The Firm is engaged in crude oil exploration, development and production in Colombia. It currently has negative earnings. The Company’s divisions include Canada and Colombia.
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