Frustrating. NAV is above $30/share, and shares lag this. Continues to like it though; they are doing the right things by growing cash flow. Margins are tremendous because the costs of producing oil in Colombia is low. Plus, they're getting better routes to market with pipelines. Are exposed to Brent Oil instead of WCS, so prices they get are better. They are buying 10% of outstanding shares each year, a big amount. Happy to hold.
Low-cost operator in Colombia. Production growing at high-single digit pace. Political unrest behind them. Expects to meet guidance. Cash rich, no debt. Covertly taking the company private. Initiated dividend, special dividend. Cheap at 5x earnings. Likely to outperform in a less than robust commodity environment that we have now.
Not a great company to own.
Value trap that has geopolitical risk.
Better names to own in sector.
Very risky buy.
Inventory depth not as great.
A year ago, oil prices spiked sharply because of the Russian war. Also, a leftist government won the Colombia election so there was a fear of higher royalties paid. Still likes Parex: debt-free, pays nearly a 4% dividend and are buying back lots of shares.
Parex Resources Inc. is a Canadian stock, trading under the symbol PXT-T on the Toronto Stock Exchange (PXT-CT). It is usually referred to as TSX:PXT or PXT-T
In the last year, 11 stock analysts published opinions about PXT-T. 8 analysts recommended to BUY the stock. 2 analysts recommended to SELL the stock. The latest stock analyst recommendation is . Read the latest stock experts' ratings for Parex Resources Inc..
Parex Resources Inc. was recommended as a Top Pick by on . Read the latest stock experts ratings for Parex Resources Inc..
Earnings reports or recent company news can cause the stock price to drop. Read stock experts’ recommendations for help on deciding if you should buy, sell or hold the stock.
11 stock analysts on Stockchase covered Parex Resources Inc. In the last year. It is a trending stock that is worth watching.
On 2023-09-21, Parex Resources Inc. (PXT-T) stock closed at a price of $24.33.
Share buybacks total 35-40% in the last 4-5 years. Likes that.