Stocks to Watch: Parex Resources Inc. (TSX:PXT) Up +3.90%

At close of market on Wednesday, Parex Resources Inc. (TSX:PXT) stock finished trading at +3.90%, bringing the stock price to $21.87 on the Toronto Stock Exchange. The stock price saw a low of $21.14 and a high of $22.37.

The company’s stock was traded 4,432 times with a total of 906,091 shares traded.

Parex Resources Inc. has a market cap of $3.17 billion, with 146.23 million shares in issue.

Parex Resources Inc engages in exploration, development, and production of crude oil. The company brings technology utilized in the Western Canada Sedimentary Basin to South American basins with large oil-in-place potential. Majority of the company’s properties are focused in Colombia, where it pays a royalty or tax to the government for its operations. Parex depends on a team of geologists and geophysicists, in partnership with technologies such as 3D seismic surveying, to help exploration efforts. Oil production is sold to a small basket of participants in South and North America.

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