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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (69405)	11/16/2019 8:33:23 AM
From: Goose94	Read Replies (1) of 202925

Parex Resources (PXT-T) top pick from Eric Nuttall on BNN.ca Market Call Friday Nov 15th @ 1200ET Parex’s superior business model allows for modest growth combined with aggressive share buybacks and is proof that dedicating a meaningful amount of FCF towards share buybacks works. The stock is up 25 per cent year-to-date, significantly outperforming its peers. Having bought back 15 million shares to date, we look for the company to buy back another 10 per cent of their shares in 2020 while growing production by 5 per cent and generating excess FCF. Trading at 3.4-times EV/CF at $60 Brent and a FCF yield of 16 per cent, we believe the stock is undervalued.

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