Parex Resources Inc.

PXT-T

Analysis and Opinions about PXT-T

Signal
Opinion
Expert
BUY
BUY
May 10, 2019
A previous Top Pick. It had suffered during their sell off process that went no where. They are not subject to the same issues as domestic producers -- getting high netbacks based on Brent oil prices. The one knock is that their reserve life is a shorter compared to their peers. He would still look to add to any position. (Analysts’ price target is $30.83)
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A previous Top Pick. It had suffered during their sell off process that went no where. They are not subject to the same issues as domestic producers -- getting high netbacks based on Brent oil prices. The one knock is that their reserve life is a shorter compared to their peers. He would still look to add to any position. (Analysts’ price target is $30.83)
PAST TOP PICK
PAST TOP PICK
May 8, 2019
(A Top Pick May 16/18, Down 8%) Had a good report today, though it's been a rollercoaster the past year. Oil prices fell off their peak last summer. Also PXT put itself up for auction at the same time. Not good and it didn't work. Earnings reported today up 18% and production 26%. High cash flow and margins and bought back shares the last quarter. Better days are ahead and he likes it.
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(A Top Pick May 16/18, Down 8%) Had a good report today, though it's been a rollercoaster the past year. Oil prices fell off their peak last summer. Also PXT put itself up for auction at the same time. Not good and it didn't work. Earnings reported today up 18% and production 26%. High cash flow and margins and bought back shares the last quarter. Better days are ahead and he likes it.
HOLD
HOLD
April 26, 2019
Issues in Russia? There is a contamination issue with their oil in Russia. He thinks it will be resolved. They are growing production and buying back stock out of free cash-flow -- he likes that. A well run company, that he took profit with a while ago. He would continue to hold it if you do, but he sees better opportunity for new money.
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Issues in Russia? There is a contamination issue with their oil in Russia. He thinks it will be resolved. They are growing production and buying back stock out of free cash-flow -- he likes that. A well run company, that he took profit with a while ago. He would continue to hold it if you do, but he sees better opportunity for new money.
DON'T BUY
DON'T BUY
April 11, 2019

With the differential in Calgary these guys performed well due to South American assets. They don't have the same pipeline issues. The concern is where their future growth is going to come from. You can get better value in Canadian names that have been beat up.

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With the differential in Calgary these guys performed well due to South American assets. They don't have the same pipeline issues. The concern is where their future growth is going to come from. You can get better value in Canadian names that have been beat up.

BUY
BUY
April 11, 2019
Likes it, but admits it's had a wild ride in the past 12 months. It's a midcap growth company that growing earnings and cash flow, which has been elusive in Alberta. They actually operate in Colombia, producing 25% more oil in the past year. 2018's stock turbulence was due to a failed auction--didn't get any company bids they liked, so investors fled. It's now dramatically undervalued. Great growth to come. Colombia's political risk has waned. vs. CNQ, the comparison is unfair, because PXT is much smaller, but the point is access to markets to Colombia is key.
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Likes it, but admits it's had a wild ride in the past 12 months. It's a midcap growth company that growing earnings and cash flow, which has been elusive in Alberta. They actually operate in Colombia, producing 25% more oil in the past year. 2018's stock turbulence was due to a failed auction--didn't get any company bids they liked, so investors fled. It's now dramatically undervalued. Great growth to come. Colombia's political risk has waned. vs. CNQ, the comparison is unfair, because PXT is much smaller, but the point is access to markets to Colombia is key.
BUY
BUY
April 9, 2019

It is testing recent highs of Oct. 2018 and could break out. As for WTI oil, it could hit $80-90, but expects strong resistance at $66. He's bearish commodities. It's okay to hold oil now to the summer, then peel back your holdings.

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It is testing recent highs of Oct. 2018 and could break out. As for WTI oil, it could hit $80-90, but expects strong resistance at $66. He's bearish commodities. It's okay to hold oil now to the summer, then peel back your holdings.

BUY
BUY
March 13, 2019
He's liked this for a long time; it's his biggest Canadian holding. They struggled a little in latter-2018, failing to sell Colombian assets. They took that off the market in December 2018. They've been aggressively buying back their stock and will continue to this year until that Colombian bid runs out. Trading at 3x cash flow. They still have excellent exploration properties. Well-managed. A cheap stock.
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He's liked this for a long time; it's his biggest Canadian holding. They struggled a little in latter-2018, failing to sell Colombian assets. They took that off the market in December 2018. They've been aggressively buying back their stock and will continue to this year until that Colombian bid runs out. Trading at 3x cash flow. They still have excellent exploration properties. Well-managed. A cheap stock.
BUY
BUY
February 26, 2019
Likes it, though it had a big plunge late last year, reflecting a weak commodity price. PXT also blundered by putting itself up for sale without having an intial stalking horse bid first. Otherwise, it's business as usual with profitable and quickly growing oil production in Colombia at 50,000 barrels of oil a day. CPX makes 25-30% ROE, because they sell at international oil prices, not the lower WCS. He expects PXT to push through old highs. He's bullish.
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Likes it, though it had a big plunge late last year, reflecting a weak commodity price. PXT also blundered by putting itself up for sale without having an intial stalking horse bid first. Otherwise, it's business as usual with profitable and quickly growing oil production in Colombia at 50,000 barrels of oil a day. CPX makes 25-30% ROE, because they sell at international oil prices, not the lower WCS. He expects PXT to push through old highs. He's bullish.
HOLD
HOLD
February 20, 2019
They produce oil in Colombia. He likes the balance sheet and the production growth. Management is educated in the region. He thinks this is a good holding for the energy space. They may be a good take out target in the future.
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They produce oil in Colombia. He likes the balance sheet and the production growth. Management is educated in the region. He thinks this is a good holding for the energy space. They may be a good take out target in the future.
PAST TOP PICK
PAST TOP PICK
February 14, 2019
(A Top Pick Jan 18/18, Up 1%) It is cheap with a great balance sheet so the reason for buying it still holds. They failed to sell a portion of their business. They have a fair bit of exploration targets and they get Brent pricing.
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(A Top Pick Jan 18/18, Up 1%) It is cheap with a great balance sheet so the reason for buying it still holds. They failed to sell a portion of their business. They have a fair bit of exploration targets and they get Brent pricing.
PARTIAL BUY
PARTIAL BUY
February 4, 2019
It has had less of a move than others. $20 is critical. We need to see it get through this resistance. If it does we could easily get to $26. You could buy half now and the other half when it gets through $20. It is seasonally positive right now. (Analysts’ price target is $28.58)
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It has had less of a move than others. $20 is critical. We need to see it get through this resistance. If it does we could easily get to $26. You could buy half now and the other half when it gets through $20. It is seasonally positive right now. (Analysts’ price target is $28.58)
TOP PICK
TOP PICK
January 30, 2019
OPEC doesn't want oil to fall that low. $65 oil is possible. There's definite upside here. Even Canadian oil is improving, though slowly. Canada needs more pipelines to the US and more markets, namely China. Railways have stepped up, but it's not the safest way to transport oil. He's bullish Canadian oil. (Analysts’ price target is $28.58)
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OPEC doesn't want oil to fall that low. $65 oil is possible. There's definite upside here. Even Canadian oil is improving, though slowly. Canada needs more pipelines to the US and more markets, namely China. Railways have stepped up, but it's not the safest way to transport oil. He's bullish Canadian oil. (Analysts’ price target is $28.58)
BUY
BUY
January 25, 2019
He bought it two weeks ago. They have improved their reserve life index from 4 to 11 years. Their netbacks are expected to grow 19% this year. They will likely buy back 10% of their shares next year. There is Colombian exposure, but for 4% weight in his portfolio he is happy to take the risk.
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He bought it two weeks ago. They have improved their reserve life index from 4 to 11 years. Their netbacks are expected to grow 19% this year. They will likely buy back 10% of their shares next year. There is Colombian exposure, but for 4% weight in his portfolio he is happy to take the risk.
BUY
BUY
January 14, 2019
Loves it. One of his biggest holdings. It got hammered, but actually holds net cash and generates $4+/share. Incredibly cheap. They get Brent Oil pricing, another upside. It'll go back to mid-$20's.
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Loves it. One of his biggest holdings. It got hammered, but actually holds net cash and generates $4+/share. Incredibly cheap. They get Brent Oil pricing, another upside. It'll go back to mid-$20's.
TOP PICK
TOP PICK
January 9, 2019
Oil was a dirty word last year, and Parex got immersed in controversy. Mid-size rapidly growing producer of oil. Owns some of highest netbacks, which are operating margins, of any Canadian oil producer. Tripled production since 2013, but quintupled EPS, which is unique in the resource space. Compelling buying opportunity right here, right now. No dividend. (Analysts’ price target is $29.11)
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Oil was a dirty word last year, and Parex got immersed in controversy. Mid-size rapidly growing producer of oil. Owns some of highest netbacks, which are operating margins, of any Canadian oil producer. Tripled production since 2013, but quintupled EPS, which is unique in the resource space. Compelling buying opportunity right here, right now. No dividend. (Analysts’ price target is $29.11)
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