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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (76319)	3/10/2020 7:49:55 PM
From: Goose94	Read Replies (1) of 203020

Parex Resources (PXT-T) revisited 2.0 top pick from Brian Madden on BNN.ca Market Call 2nite Tues March 10th @ 1800ET Parex is a mid-sized oil producer operating in Colombia. It enjoys some of the highest operating margins of any mid- to large-sized Canadian energy producer. The company has more than tripled production since 2013 and ended 2019 producing over 54,000 barrels of oil per day. Crucially (and refreshingly, for a resource company) management is very focused on profitability, such that commensurate with its prolific growth in production earnings have grown 418 per cent since 2013 and the return on shareholders’ equity exceeds 20 per cent. With just $2 million of debt and $350 million in cash on its books, Parex is well-positioned to fund its capital program, enabling further production and cash flow growth. If commodity prices re-normalize, it could also aggressively buy back the stock after having already retired nearly 10 per cent of its shares in 2019.

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