Stifel Nicolaus Sticks to Its Buy Rating for Parex Resources (PARXF)


Stifel Nicolaus analyst Cody Kwong reiterated a Buy rating on Parex Resources (PARXF) on December 7. The company’s shares closed last Thursday at $15.67.

According to TipRanks.com, Kwong has 0 stars on 0-5 stars ranking scale with an average return of -7.1% and a 32.0% success rate. Kwong covers the Utilities sector, focusing on stocks such as Tamarack Valley Energy, Paramount Resources, and Whitecap Resources.

Currently, the analyst consensus on Parex Resources is a Strong Buy with an average price target of $20.19, implying a 32.0% upside from current levels. In a report issued on December 12, Scotiabank also maintained a Buy rating on the stock with a C$24.00 price target.

See today’s analyst top recommended stocks >>

The company has a one-year high of $18.77 and a one-year low of $6.50. Currently, Parex Resources has an average volume of 6,886.

Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling 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.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts