Parex Resources Inc reported quarterly adjusted earnings of 55 cents per share for the quarter ended in September. The mean expectation of two analysts for the quarter was for earnings of 79 cents per share.
Revenue rose 72% to $230.83 million from a year ago; analysts expected $275.20 million. Parex Resources Inc’s reported EPS for the quarter was 55 cents. The mean earnings estimate of analysts had fallen by about 1.4% in the last three months.
In the last 30 days there have been no negative revisions of earnings estimates. Parex Resources Inc shares had risen by 4.3% this quarter and gained 37.2% so far this year. The company reported quarterly net income of $67.94 million. Wall Street’s median 12-month price target for Parex Resources Inc is C$34.00. The current average analyst rating on the shares is “buy” and the breakdown of recommendations is 11 “strong buy” or “buy,” no “hold” and no “sell” or “strong sell.”