Parex Resources Inc.

PXT-T

Analysis and Opinions about PXT-T

Signal
Opinion
Expert
TOP PICK
TOP PICK
January 20, 2020
It is the first oil play he has ever recommended. They have no debt, 10% free cash flow yield and bought back 10% of their shares with another 10% this year. This is not a call on where oil goes from here. They are profitable down to $30 oil. He is comfortable with their 100% exposure to Colombia. (Analysts’ price target is $30.84)
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It is the first oil play he has ever recommended. They have no debt, 10% free cash flow yield and bought back 10% of their shares with another 10% this year. This is not a call on where oil goes from here. They are profitable down to $30 oil. He is comfortable with their 100% exposure to Colombia. (Analysts’ price target is $30.84)
PAST TOP PICK
PAST TOP PICK
January 9, 2020
(A Top Pick Jan 09/19, Up 40%) Darling, because no assets in western Canada. Lots of free cash flow, no debt. Buying back shares. Great company, quality producer. Still likes it, still buying it.
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(A Top Pick Jan 09/19, Up 40%) Darling, because no assets in western Canada. Lots of free cash flow, no debt. Buying back shares. Great company, quality producer. Still likes it, still buying it.
DON'T BUY
DON'T BUY
December 30, 2019
It is a solid producer with solid partnerships in Colombia. He prefers GTE-T.
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It is a solid producer with solid partnerships in Colombia. He prefers GTE-T.
STRONG BUY
STRONG BUY
November 25, 2019

Loves it. Best place in the E&P space. They've been buying back a ton of stock. Clean balance sheet and cash flow growth. They've seen exploration successes. It's his go-to name in the space. Strong managers have hit all their targets.

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Loves it. Best place in the E&P space. They've been buying back a ton of stock. Clean balance sheet and cash flow growth. They've seen exploration successes. It's his go-to name in the space. Strong managers have hit all their targets.

TOP PICK
TOP PICK
November 15, 2019
They continue to buy back shares. They can grow 5%, buy back 10% of their shares and still have positive cash flow. They are looking to increase their inventory in Colombia. Yield 0% (Analysts’ price target is $30.04)
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They continue to buy back shares. They can grow 5%, buy back 10% of their shares and still have positive cash flow. They are looking to increase their inventory in Colombia. Yield 0% (Analysts’ price target is $30.04)
PAST TOP PICK
PAST TOP PICK
October 30, 2019
(A Top Pick Dec 21/18, Up 22%) A Colombian energy play. It had announced they had bought back 10% of their shares. It does not have any infrastructure constraints like its Canadian peers. It receives Brent pricing for its oil. They have lots of cash which allows them to another share buyback, likely in December. If you want to be in energy, you can't go wrong. It trades at 3 times cash flow.
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(A Top Pick Dec 21/18, Up 22%) A Colombian energy play. It had announced they had bought back 10% of their shares. It does not have any infrastructure constraints like its Canadian peers. It receives Brent pricing for its oil. They have lots of cash which allows them to another share buyback, likely in December. If you want to be in energy, you can't go wrong. It trades at 3 times cash flow.
TOP PICK
TOP PICK
October 10, 2019
Operate in Colombia, so they get international oil prices plus there's abundant pipeline capacity. Tripled production since 2013. Flush with cash. Share buybacks. Inexpensive. No dividend. (Analysts’ price target is $30.42)
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Operate in Colombia, so they get international oil prices plus there's abundant pipeline capacity. Tripled production since 2013. Flush with cash. Share buybacks. Inexpensive. No dividend. (Analysts’ price target is $30.42)
BUY
BUY
August 30, 2019
Trading at less than 3x next year's free cash flow based on $70 Brent. He would buy this. They are actively buying back shares. A very well-run company.
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Trading at less than 3x next year's free cash flow based on $70 Brent. He would buy this. They are actively buying back shares. A very well-run company.
PAST TOP PICK
PAST TOP PICK
August 27, 2019
(A Top Pick Aug 23/18, Up 2%) A postive gain on any Canadian energy holding is a real winner. They announced they will sell some of their Colombian mature assets to fund growth. They did not receive the bids they wanted and used their cash to buy back almost 10% of the share float. Production per share is up 25%, yet the stock is flat. They don't suffer from Norther American infrastructure constraints. A table pounding buy. Yield 0%
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(A Top Pick Aug 23/18, Up 2%) A postive gain on any Canadian energy holding is a real winner. They announced they will sell some of their Colombian mature assets to fund growth. They did not receive the bids they wanted and used their cash to buy back almost 10% of the share float. Production per share is up 25%, yet the stock is flat. They don't suffer from Norther American infrastructure constraints. A table pounding buy. Yield 0%
BUY
BUY
August 23, 2019
Thinks it's a good company with high volume oil production. A lot of their production comes from South America. One of the favoured stock in the sector. If you can stomach volatility, it is a good name to be in.
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Thinks it's a good company with high volume oil production. A lot of their production comes from South America. One of the favoured stock in the sector. If you can stomach volatility, it is a good name to be in.
PAST TOP PICK
PAST TOP PICK
August 7, 2019
(A Top Pick Aug 01/18, Down 11%) Still likes it, but was stuck in a corporate drama when the managers failed to sell it at the wrong time, when oil prices peaked a year ago. They got a few lousy bids for actually productive assets. Now, it's business as usual, producing 52,000 barrels a day from Colombia that get international pricing. They're growing production 20% a year and growing cash flow per share by 9%. They also buy back stock and don't carry debt on the books. Trades at 6x earnings. The market disagrees, but he's happy to hold it.
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(A Top Pick Aug 01/18, Down 11%) Still likes it, but was stuck in a corporate drama when the managers failed to sell it at the wrong time, when oil prices peaked a year ago. They got a few lousy bids for actually productive assets. Now, it's business as usual, producing 52,000 barrels a day from Colombia that get international pricing. They're growing production 20% a year and growing cash flow per share by 9%. They also buy back stock and don't carry debt on the books. Trades at 6x earnings. The market disagrees, but he's happy to hold it.
BUY
BUY
July 19, 2019
A solid company trading at 14% free cash flow. They will buyback shares later this year, which other oil companies should do.
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A solid company trading at 14% free cash flow. They will buyback shares later this year, which other oil companies should do.
COMMENT
COMMENT
July 17, 2019

Gran Tierra (GTE-T) vs Parex Resources (PXT-T). A tale of comparing two brothers. Both are in South America with Columbian core assets. Parex being a pure play vs Gran Tierra having ventured into Peru and Brazil and have exited these areas and now looking at Mexico and so forth. Prefers Parex as a South American play, very consistant. Gran Tierra has had its misteps, still has very good core Columbian assets.

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Gran Tierra (GTE-T) vs Parex Resources (PXT-T). A tale of comparing two brothers. Both are in South America with Columbian core assets. Parex being a pure play vs Gran Tierra having ventured into Peru and Brazil and have exited these areas and now looking at Mexico and so forth. Prefers Parex as a South American play, very consistant. Gran Tierra has had its misteps, still has very good core Columbian assets.

PAST TOP PICK
PAST TOP PICK
July 11, 2019
(A Top Pick Aug 01/18, Down 7%) They did a failed assets sale last year at the wrong time when oil markets peaked then slid. They received lousy bids. It's still a great growth story with a good drill program. They're operating in Colombia, so they get international pricing, not low Canadian. They are buying back a lot of shares. He's happy holding this for the long term.
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(A Top Pick Aug 01/18, Down 7%) They did a failed assets sale last year at the wrong time when oil markets peaked then slid. They received lousy bids. It's still a great growth story with a good drill program. They're operating in Colombia, so they get international pricing, not low Canadian. They are buying back a lot of shares. He's happy holding this for the long term.
WATCH
WATCH
May 31, 2019

They have ended their strategy view and have decided to not sell the company. They thought is was worth $30 per share. It has cheap metrics and receives Brent pricing for its oil. They had a dry hole recently, which prompted them to exit their holding.

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They have ended their strategy view and have decided to not sell the company. They thought is was worth $30 per share. It has cheap metrics and receives Brent pricing for its oil. They had a dry hole recently, which prompted them to exit their holding.

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