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Parex Resources Inc. (PARXF)

Other OTC - Other OTC Delayed Price. Currency in USD
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16.50+0.53 (+3.34%)
At close: 10:44AM EDT
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  • D
    Dreas
    Nearly a 5% dividend now
  • L
    Logger
    It’s great that they wish that they can stop using oil but in reality if they want to build infrastructure towards a cleaner future then they will have to face reality that it’s going to take years and years and more years of oil consumption to build the infrastructure and then it will take more years and years and years to maintain the new infrastructure… oh yeah they also have to find replacements for all the oil related chemicals that are used to put in mostly all products for longevity of the given product …
  • j
    jack
    Ouch that is why I didn’t buy I was gonna wait till after the election but still now I’m not sure
  • g
    geoff
    BNS released a research report --- even if petro wins the run off it'll have very little impact. PXT tripled it's acreage last year and has been accelerating drilling permits. They have lots of land left to explore and while the permitting for new wells may slow down, they're planning ahead to mitigate it. Presidents can only run for one term in Colombia and he's agreed he'll acknowledged existing land/agreements.
  • A
    Anonymous
    down 30 % in a week
  • C
    Chris
    Still well behind where I thought we would be post earnings. It really makes me wonder which of the following is true:

    1) Investors are really just unaware of this company. That would explain why the zero debt, huge return of capital, huge long-life reserves, recent love of growing dividends, and $115 Brent pricing (which is how Parex prices oil in Columbia)

    or

    2) Investors are more drawn to companies that are not expanding production and just returning most free cash flow to them

    or

    3) People get nervous about companies who operate in countries like Columbia, which has actually been a very stable environment for oil.

    Could be one or a combination of these, but I can't think of any reason why a oil company in this market with no debt is trading at 4x forward earnings. Why isn't someone looking to acquire them?
  • M
    Meltup
    "Return of Capital - 79% Dividend Increase and Share Buyback Maximized
    As previously disclosed, the Company’s long-term capital allocation framework is to target the return of at least one third of annual FFO(1) to shareholders, with the remaining FFO(1) to be reinvested in the business. Under this framework, and with zero debt, Parex is positioned to target the return of 100% of annual free funds flow (FFO(1) less capital expenditures)(2) to shareholders through dividends and share buybacks.
    Parex’s Board of Directors has approved a second quarter 2022 regular dividend of C$0.25 per share to be paid on June 30, 2022 to shareholders of record on June 15, 2022, representing a 79% increase from the Company’s first quarter 2022 regular dividend and a 100% increase from the Company's fourth quarter 2021 regular dividend."
  • C
    Chris
    Ok, management, listen in. The current dividend represents only 20% of FFO at $40 Brent. At $40 Brent, you would stop investing in production growth. So your base dividend could easily move to 40% of FFO at $40 Brent. This is totally, 100% sustainable considering the total lack of debt. Make it happen or we will continue to trade sideways. We all like growth plans but frankly with most other oil producers committing 50% of FFO to return of capital, the current commitment of only 33% is not making the cut for those hunting for an oil play. Listen to the market, your shareholders, and analysts and show us the money.
  • N
    Nicholas
    We need an activist investor to unlock better returns for shareholders.

    Totally out of step with current sentiment and expectations.

    If the board won’t fire the CEO, we need to fire the board. Use your vote!
  • A
    Albano
    In my opinion very good results.
    buying back shares every quarter , no debts , it makes me think are they thinking to go private maybe ??
    undervalued stock
    i think right now they real value should be about $45.
  • C
    Chris
    Trading $1 below the share price on June 1st, 2018. What’s even more shocking, is the share float is down almost 30% from there. So, the market cap is down 33% in that time despite the current oil market producing copious free cash without any hedges for Parex. Time to pound the table.
  • J
    Joan
    Leftist ex-rebel Gustavo Petro wins Colombian presidency in narrow, historic election
  • j
    jack
    The left wing candidate will win and he said he will ban exploration of oil which really worries me tbh I don’t hold it because of that stock. Even tho it’s obvious unrealistic that happens politicians are full of lies lol but still ain’t worth the risk yet
  • C
    Chris
    I rode this stock from $18 up to $28.50 when I sold earlier this year. Just bought back in for 600 shares. The fact the price is down from when I sold is totally shocking. No debt, 10% buyback of shares annually, and free cash flow at record levels at current Brent crude pricing. This should be a very shareholder friendly quarter, and I expect the share price to see a re-rating to ~$33 after earnings. I should clarify though that I expect the company to announce more special dividends.
  • C
    Chris
    No matter how much oil goes up this stock tends to trade sideways. The reason? Management needs to increase the regular dividend. It’s far too low in these market conditions.
  • L
    Logger
    A company like Parex will be around for a long time and they will consistently grow . Their chart looks similar to a long term growth chart
  • D
    David
    So much value here.. I just keep buying... How can I not?
  • M
    Meltup
    EARNINGS TONIGHT
  • M
    Meltup
    PUT THE EARNINGS OUT
  • g
    geoff
    this company is SO undervalued...