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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (64417)	10/11/2019 6:12:43 PM
From: Goose94	Read Replies (1) of 203020

Parex Resources (PXT-T) revisited top pick from Brian Madden on BNN.ca Market Call 2nite Thirst-day Oct 10th @ 1800ET Parex is a mid-sized, rapidly growing oil producer operating in Colombia. The company has more than tripled production since 2013 and ended the second quarter producing over 52,300 barrels of oil per day. Crucially (and refreshingly for a resource company), the management team is very focused on profitability, such that commensurate with its prolific growth in production, earnings have grown 235 per cent since 2013 and the return on shareholders’ equity now exceeds 25 per cent. With a mere $2 million of debt and $318 million in cash on their books, Parex is well positioned to both fund their capital program and execute aggressively on their share buyback program, which has already retired 6 per cent of their shares during the first six months of 2019.

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