Loading...

You're on the old version of Simply Wall St. We will no longer be supporting this site, so we recommend you switch to our brand new platform.

Parex Resources

TSX:PXT
Snowflake Description

Flawless balance sheet and good value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PXT
TSX
CA$2B
Market Cap
  1. Home
  2. CA
  3. Energy
Company description

Parex Resources Inc. engages in the exploration, development, production, and marketing of oil and natural gas in Colombia. The last earnings update was 27 days ago. More info.


Add to Portfolio Compare Print
  • Parex Resources has significant price volatility in the past 3 months.
PXT Share Price and Events
7 Day Returns
21.1%
TSX:PXT
10.8%
CA Oil and Gas
1.4%
CA Market
1 Year Returns
-38.9%
TSX:PXT
-41.3%
CA Oil and Gas
-24.8%
CA Market
PXT Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Parex Resources (PXT) 21.1% -24.1% -45.5% -38.9% -26% 47.5%
CA Oil and Gas 10.8% -29.5% -40.9% -41.3% -49.1% -53.7%
CA Market 1.4% -19.2% -24.9% -24.8% -22.4% -17%
1 Year Return vs Industry and Market
  • PXT outperformed the Oil and Gas industry which returned -41.3% over the past year.
  • PXT underperformed the Market in Canada which returned -24.8% over the past year.
Price Volatility
PXT
Industry
5yr Volatility vs Market

PXT Value

 Is Parex Resources undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Parex Resources to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Parex Resources.

TSX:PXT Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 4 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.3%
Perpetual Growth Rate 10-Year CA Government Bond Rate 1.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for TSX:PXT
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.4%
Equity Risk Premium S&P Global 5.4%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.83
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.83 (1 + (1- 26.5%) (0.12%))
0.887
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.89
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.44% + (0.887 * 5.44%)
6.26%

Discounted Cash Flow Calculation for TSX:PXT using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Parex Resources is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

TSX:PXT DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 6.26%)
2020 159.16 Analyst x7 149.78
2021 231.07 Analyst x7 204.63
2022 264.31 Analyst x1 220.28
2023 343.41 Analyst x1 269.32
2024 401.39 Est @ 16.88% 296.24
2025 450.56 Est @ 12.25% 312.93
2026 491.14 Est @ 9.01% 321.01
2027 524.23 Est @ 6.74% 322.44
2028 551.22 Est @ 5.15% 319.06
2029 573.47 Est @ 4.04% 312.37
Present value of next 10 years cash flows $2,728.00
TSX:PXT DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $573.47 × (1 + 1.44%) ÷ (6.26% – 1.44%)
$12,060.39
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $12,060.39 ÷ (1 + 6.26%)10
$6,569.37
TSX:PXT Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $2,728.00 + $6,569.37
$9,297.37
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $9,297.37 / 141.02
$65.93
TSX:PXT Discount to Share Price
Calculation Result
Exchange Rate USD/CAD
(Reporting currency to currency of TSX:PXT)
1.413
Value per Share
(CAD)
= Value per Share in USD x Exchange Rate (USD/CAD)
= $65.93 x 1.413
CA$93.17
Value per share (CAD) From above. CA$93.17
Current discount Discount to share price of CA$13.26
= -1 x (CA$13.26 - CA$93.17) / CA$93.17
85.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Parex Resources is available for.
Intrinsic value
>50%
Share price is CA$13.26 vs Future cash flow value of CA$93.17
Current Discount Checks
For Parex Resources to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Parex Resources's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Parex Resources's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Parex Resources's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Parex Resources's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:PXT PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $2.24
TSX:PXT Share Price ** TSX (2020-04-03) in CAD CA$13.26
TSX:PXT Share Price converted to USD reporting currency Exchange rate (CAD/ USD) 0.708 $9.38
Canada Oil and Gas Industry PE Ratio Median Figure of 53 Publicly-Listed Oil and Gas Companies 6.35x
Canada Market PE Ratio Median Figure of 498 Publicly-Listed Companies 10.33x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Parex Resources.

TSX:PXT PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:PXT Share Price ÷ EPS (both in USD)

= 9.38 ÷ 2.24

4.19x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Parex Resources is good value based on earnings compared to the CA Oil and Gas industry average.
  • Parex Resources is good value based on earnings compared to the Canada market.
Price based on expected Growth
Does Parex Resources's expected growth come at a high price?
Raw Data
TSX:PXT PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 4.19x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
-28.6%per year
Canada Oil and Gas Industry PEG Ratio Median Figure of 29 Publicly-Listed Oil and Gas Companies -0.06x
Canada Market PEG Ratio Median Figure of 233 Publicly-Listed Companies 0.68x

*Line of best fit is calculated by linear regression .

TSX:PXT PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 4.19x ÷ -28.6%

-0.15x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Parex Resources earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Parex Resources's assets?
Raw Data
TSX:PXT PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $9.79
TSX:PXT Share Price * TSX (2020-04-03) in CAD CA$13.26
TSX:PXT Share Price converted to USD reporting currency Exchange rate (CAD/ USD) 0.708 $9.38
Canada Oil and Gas Industry PB Ratio Median Figure of 197 Publicly-Listed Oil and Gas Companies 0.43x
Canada Market PB Ratio Median Figure of 2,359 Publicly-Listed Companies 0.99x
TSX:PXT PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:PXT Share Price ÷ Book Value per Share (both in USD)

= 9.38 ÷ 9.79

0.96x

* Primary Listing of Parex Resources.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Parex Resources is overvalued based on assets compared to the CA Oil and Gas industry average.
X
Value checks
We assess Parex Resources's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Oil and Gas industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Oil and Gas industry average (and greater than 0)? (1 check)
  5. Parex Resources has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

PXT Future Performance

 How is Parex Resources expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-28.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Parex Resources expected to grow at an attractive rate?
  • Parex Resources's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 1.4%.
Growth vs Market Checks
  • Parex Resources's earnings are expected to decrease over the next 1-3 years, this is below the Canada market average.
  • Parex Resources's revenues are expected to decrease over the next 1-3 years, this is below the Canada market average.
Annual Growth Rates Comparison
Raw Data
TSX:PXT Future Growth Rates Data Sources
Data Point Source Value (per year)
TSX:PXT Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts -28.6%
TSX:PXT Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts -7.5%
Canada Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average -18.6%
Canada Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average -1.4%
Canada Market Earnings Growth Rate Market Cap Weighted Average 5.1%
Canada Market Revenue Growth Rate Market Cap Weighted Average 3.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
TSX:PXT Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSX:PXT Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 594
2022-12-31 515
2021-12-31 780 367 202 4
2020-12-31 597 264 132 4
2020-04-06
TSX:PXT Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 978 365 328
2019-09-30 957 495 295
2019-06-30 927 469 326
2019-03-31 874 532 413
2018-12-31 833 532 403
2018-09-30 761 419 405
2018-06-30 672 351 372
2018-03-31 574 344 186
2017-12-31 514 285 155
2017-09-30 475 267 54
2017-06-30 470 272 5
2017-03-31 453 205 1

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Parex Resources's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Parex Resources's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
TSX:PXT Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from Parex Resources Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:PXT Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 1.06 1.53 0.56 4.00
2020-12-31 0.66 1.09 0.27 4.00
2020-04-06
TSX:PXT Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 2.24
2019-09-30 1.97
2019-06-30 2.14
2019-03-31 2.67
2018-12-31 2.59
2018-09-30 2.61
2018-06-30 2.40
2018-03-31 1.21
2017-12-31 1.01
2017-09-30 0.35
2017-06-30 0.03
2017-03-31 0.01

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Parex Resources is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Parex Resources's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Canada market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Parex Resources has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

PXT Past Performance

  How has Parex Resources performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Parex Resources's growth in the last year to its industry (Oil and Gas).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Parex Resources has delivered over 20% year on year earnings growth in the past 5 years.
  • Parex Resources's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Parex Resources's 1-year earnings growth is negative, it can't be compared to the CA Oil and Gas industry average.
Earnings and Revenue History
Parex Resources's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Parex Resources Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:PXT Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 977.55 327.99 61.90
2019-09-30 957.22 294.84 45.03
2019-06-30 927.50 326.31 48.84
2019-03-31 874.04 413.41 55.29
2018-12-31 832.99 402.90 50.05
2018-09-30 761.34 404.77 63.48
2018-06-30 671.69 371.56 68.50
2018-03-31 573.67 186.48 59.12
2017-12-31 514.23 155.08 60.95
2017-09-30 474.84 53.72 55.65
2017-06-30 469.51 5.00 55.40
2017-03-31 452.70 1.29 57.44
2016-12-31 411.16 -46.44 56.56
2016-09-30 390.44 -4.48 53.31
2016-06-30 386.19 -38.71 46.09
2016-03-31 434.17 -36.71 47.02
2015-12-31 482.72 -43.84 46.30
2015-09-30 526.34 -166.38 43.22
2015-06-30 616.10 -122.17 46.32
2015-03-31 630.01 -112.02 46.26
2014-12-31 661.13 -86.58 44.86
2014-09-30 664.95 101.16 47.83
2014-06-30 597.57 56.40 46.90
2014-03-31 567.30 52.06 40.52
2013-12-31 559.15 52.53 37.23
2013-09-30 551.19 -25.04 41.98
2013-06-30 537.23 10.47 39.95

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Parex Resources has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Parex Resources used its assets more efficiently than the CA Oil and Gas industry average last year based on Return on Assets.
  • Parex Resources has become profitable over the past 3 years. This is considered to be a significant improvement in its use of capital (Return on Capital Employed).
X
Past performance checks
We assess Parex Resources's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Oil and Gas industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Parex Resources has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

PXT Health

 How is Parex Resources's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Parex Resources's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Parex Resources is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Parex Resources's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Parex Resources's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Parex Resources has no debt, it does not need to be covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Parex Resources Company Filings, last reported 3 months ago.

TSX:PXT Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 1,402.45 0.00 396.84
2019-09-30 1,319.27 0.00 350.21
2019-06-30 1,304.68 0.00 318.14
2019-03-31 1,270.98 0.00 432.91
2018-12-31 1,273.03 0.00 462.89
2018-09-30 1,225.59 0.00 360.88
2018-06-30 1,135.86 0.00 323.13
2018-03-31 960.45 0.00 294.50
2017-12-31 888.27 0.00 235.04
2017-09-30 832.16 0.00 195.87
2017-06-30 771.47 0.00 202.90
2017-03-31 761.53 0.00 184.65
2016-12-31 713.79 0.00 149.25
2016-09-30 754.31 0.00 132.06
2016-06-30 742.70 0.00 94.44
2016-03-31 737.71 0.00 91.50
2015-12-31 741.93 0.00 94.82
2015-09-30 738.00 0.00 109.37
2015-06-30 762.64 0.00 103.89
2015-03-31 647.97 39.50 32.58
2014-12-31 660.64 35.00 39.00
2014-09-30 803.71 42.31 33.90
2014-06-30 684.91 130.91 63.07
2014-03-31 499.82 78.14 40.33
2013-12-31 485.06 81.03 56.49
2013-09-30 460.20 89.29 26.35
2013-06-30 485.71 98.08 44.95
  • Parex Resources has no debt.
  • Parex Resources has no debt compared to 5 years ago when it was 5.3%.
  • Parex Resources has no debt, it does not need to be covered by operating cash flow.
  • Parex Resources has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Parex Resources's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Parex Resources has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

PXT Dividends

 What is Parex Resources's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Parex Resources dividends.
If you bought CA$2,000 of Parex Resources shares you are expected to receive CA$0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Parex Resources's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Parex Resources's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
TSX:PXT Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
Canada Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 37 Stocks 7.6%
Canada Market Average Dividend Yield Market Cap Weighted Average of 324 Stocks 4.7%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.3%
Canada Bottom 25% Dividend Yield 25th Percentile 2.7%
Canada Top 25% Dividend Yield 75th Percentile 8.5%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

TSX:PXT Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31
2020-12-31
2020-04-06

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Parex Resources has not reported any payouts.
  • Unable to verify if Parex Resources's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Parex Resources's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Parex Resources has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Parex Resources's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Parex Resources afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Parex Resources has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

PXT Management

 What is the CEO of Parex Resources's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Dave Taylor
COMPENSATION $1,898,649
AGE 63
TENURE AS CEO 2.9 years
CEO Bio

Mr. David R. Taylor, also known as Dave, has been the President of Parex Resources Inc. since November 5, 2015 and as its Chief Executive Officer since May 11, 2017. Mr. Taylor served as Executive Vice President of Exploration & Business Development of Parex Resources Inc. since September 29, 2009 till November 5, 2015. Mr. Taylor served as Vice President of Business Development at Petro Andina Resources Inc., from 2007 to 2009. He has participated in all aspects of oil and natural gas exploration and production and has over 28 years of experience in the energy sector. He served as a Vice President of Exploration at Husky Energy Inc. since August 2000 till July 2007 and its subsidiary, Husky Oil Operations Limited and was responsible for global oil and natural gas exploration with a focus on Western Canada, Canadian Frontiers and Southeast Asia. He also provided oversight for international production and development operations in China, Indonesia and Libya. Some key accomplishments from his time at Husky Energy include his involvement in new discoveries made at south White Rose on Canada’s East Coast and Summit/Stewart in the Northwest Territories as well as the first deep-water discovery in China. Prior to his position with Husky Energy, Mr. Taylor served as a Vice President of Exploration for Renaissance Energy since June 1998 to August 2000, where he redirected its attention towards high impact natural gas plays in the Foothills, Deep Basin and northeast British Columbia regions. He has held various management, business development and senior technical positions with Chauvco Resources, Imperial Oil Resources and Exxon Production Research in Houston, TX. While working for Exxon, he was involved in Exxon’s exploration efforts onshore Trinidad as part of the Southern Basin consortium with Chevron. He has been a Director of Parex Resources Inc. since May 9, 2018. He is a Member of the Association of Professional Engineers, Geologists and Geophysicists of Alberta, the Canadian Society of Petroleum Geologists and the American Association of Petroleum Geologists. Mr. Taylor graduated from McMaster University with a Master of Science (Geology) in 1981 and holds a Bachelor’s Degree in Geology from the University of Pennsylvania.

CEO Compensation
  • Dave's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Dave's remuneration is about average for companies of similar size in Canada.
Management Team Tenure

Average tenure of the Parex Resources management team in years:

2.8
Average Tenure
  • The tenure for the Parex Resources management team is about average.
Management Team

Dave Taylor

TITLE
President
COMPENSATION
$2M
AGE
63
TENURE
2.9 yrs

Ken Pinsky

TITLE
CFO & Corporate Secretary
COMPENSATION
$2M
AGE
56
TENURE
10.6 yrs

Eric Furlan

TITLE
Chief Operating Officer
COMPENSATION
$1M
TENURE
2.2 yrs

Ryan Fowler

TITLE
Senior Vice President of Exploration & Business Development
COMPENSATION
$1M

Lee DiStefano

TITLE
President & Country Manager of Parex Resources Colombia
COMPENSATION
$1M
TENURE
2.8 yrs

Mike Kruchten

TITLE
Senior Vice President of Capital Markets & Corporate Planning
TENURE
1.2 yrs

Cam Grainger

TITLE
Controller
Board of Directors Tenure

Average tenure and age of the Parex Resources board of directors in years:

3.5
Average Tenure
60
Average Age
  • The tenure for the Parex Resources board of directors is about average.
Board of Directors

Wayne Foo

TITLE
Chairman of the Board
COMPENSATION
$279K
AGE
62
TENURE
2.9 yrs

Dave Taylor

TITLE
President
COMPENSATION
$2M
AGE
63
TENURE
1.9 yrs

Bob Engbloom

TITLE
Lead Director
COMPENSATION
$235K
AGE
69
TENURE
2.9 yrs

Paul Wright

TITLE
Independent Director
COMPENSATION
$199K
AGE
59
TENURE
10.6 yrs

Lisa Colnett

TITLE
Independent Director
COMPENSATION
$194K
AGE
61
TENURE
4.9 yrs

Curtis Bartlett

TITLE
Independent Director
COMPENSATION
$181K
AGE
56
TENURE
10.6 yrs

Ron Miller

TITLE
Independent Director
COMPENSATION
$208K
AGE
53
TENURE
10.6 yrs

Bob MacDougall

TITLE
Independent Director
COMPENSATION
$193K
AGE
56
TENURE
3.5 yrs

Glenn McNamara

TITLE
Independent Director
COMPENSATION
$210K
AGE
66
TENURE
3.5 yrs

Carmen Sylvain

TITLE
Independent Director
COMPENSATION
$181K
AGE
58
TENURE
2.8 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Parex Resources individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
18. Mar 20 Buy Jeff Meunier Individual 17. Mar 20 17. Mar 20 2,330 CA$11.78 CA$27,447
18. Mar 20 Buy Meunier Jeff Individual 17. Mar 20 17. Mar 20 2,380 CA$11.78 CA$28,036
13. Mar 20 Buy Carmen Sylvain Individual 06. Jan 20 06. Jan 20 410 CA$24.37 CA$9,992
16. Jan 20 Buy Carmen Sylvain Individual 16. Jan 20 16. Jan 20 250 CA$23.64 CA$5,910
23. Dec 19 Sell Wayne Foo Foundation, Endowment Arm Company 20. Dec 19 23. Dec 19 -75,000 CA$23.36 CA$-1,735,277
23. Dec 19 Sell Ronald Miller Individual 20. Dec 19 20. Dec 19 -75,000 CA$23.00 CA$-1,725,000
09. Dec 19 Sell Skeena Capital Limited Company 06. Dec 19 06. Dec 19 -90,000 CA$20.05 CA$-1,804,500
06. Dec 19 Buy Ronald Miller Individual 04. Dec 19 04. Dec 19 5,265 CA$19.92 CA$104,863
19. Nov 19 Sell Ronald Miller Individual 15. Nov 19 15. Nov 19 -100,000 CA$20.66 CA$-2,066,000
18. Nov 19 Sell Skeena Capital Limited Company 15. Nov 19 15. Nov 19 -100,000 CA$20.66 CA$-2,066,000
26. Sep 19 Sell Eric Furlan Individual 25. Sep 19 25. Sep 19 -33,000 CA$21.22 CA$-700,260
25. Sep 19 Sell Michael Kruchten Individual 23. Sep 19 23. Sep 19 -85,913 CA$22.10 CA$-1,893,645
19. Sep 19 Sell Skeena Capital Limited Company 17. Sep 19 17. Sep 19 -168,550 CA$22.94 CA$-3,866,200
19. Sep 19 Sell Ronald Miller Individual 17. Sep 19 17. Sep 19 -178,550 CA$22.94 CA$-4,094,500
13. Sep 19 Sell Skeena Capital Limited Company 12. Sep 19 12. Sep 19 -31,450 CA$21.50 CA$-676,175
13. Sep 19 Sell Ronald Miller Individual 12. Sep 19 12. Sep 19 -31,450 CA$21.50 CA$-676,175
12. Sep 19 Sell Paul Wright Individual 10. Sep 19 11. Sep 19 -15,000 CA$21.46 CA$-321,846
09. Sep 19 Sell Skeena Capital Limited Company 05. Sep 19 05. Sep 19 -46,800 CA$21.20 CA$-992,160
09. Sep 19 Sell Ronald Miller Individual 05. Sep 19 05. Sep 19 -46,800 CA$21.20 CA$-992,160
26. Aug 19 Sell Skeena Capital Limited Company 22. Aug 19 22. Aug 19 -53,200 CA$21.05 CA$-1,119,860
26. Aug 19 Buy Carmen Sylvain Individual 26. Aug 19 26. Aug 19 300 CA$19.50 CA$5,850
26. Aug 19 Sell Ronald Miller Individual 22. Aug 19 22. Aug 19 -53,200 CA$21.05 CA$-1,119,860
12. Aug 19 Sell Skeena Capital Limited Company 09. Aug 19 09. Aug 19 -145,000 CA$21.11 CA$-3,060,950
12. Aug 19 Sell Ronald Miller Individual 09. Aug 19 09. Aug 19 -95,000 CA$21.11 CA$-2,005,450
17. Jul 19 Sell Skeena Capital Limited Company 15. Jul 19 17. Jul 19 -255,000 CA$21.89 CA$-5,535,405
17. Jul 19 Sell Ronald Miller Individual 15. Jul 19 17. Jul 19 -255,000 CA$21.89 CA$-5,535,405
12. Jul 19 Sell Skeena Capital Limited Company 10. Jul 19 10. Jul 19 -100,000 CA$21.52 CA$-2,152,000
12. Jul 19 Sell Ronald Miller Individual 10. Jul 19 10. Jul 19 -100,000 CA$21.52 CA$-2,152,000
25. Jun 19 Sell Robert Engbloom Individual 21. Jun 19 21. Jun 19 -15,000 CA$21.19 CA$-317,889
23. Apr 19 Sell Paul Wright Individual 22. Apr 19 22. Apr 19 -10,000 CA$22.60 CA$-226,000
X
Management checks
We assess Parex Resources's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Parex Resources has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

PXT News

Simply Wall St News

Parex Resources (TSE:PXT) Shareholders Have Enjoyed A 49% Share Price Gain

During the five years of share price growth, Parex Resources moved from a loss to profitability. … TSX:PXT Past and Future Earnings, August 21st 2019 We like that insiders have been buying shares in the last twelve months. … Parex Resources is not the only stock that insiders are buying.

Simply Wall St -

Here's How P/E Ratios Can Help Us Understand Parex Resources Inc. (TSE:PXT)

The formula for P/E is: Price to Earnings Ratio = Share Price (in reporting currency) ÷ Earnings per Share (EPS) Or for Parex Resources: P/E of 7.14 = $15.28 (Note: this is the share price in the reporting currency, namely, USD ) ÷ $2.14 (Based on the year to June 2019.) Is A High P/E Ratio Good? … TSX:PXT Price Estimation Relative to Market, August 8th 2019 Its relatively low P/E ratio indicates that Parex Resources shareholders think it will struggle to do as well as other companies in its industry classification. … The Verdict On Parex Resources's P/E Ratio Parex Resources trades on a P/E ratio of 7.1, which is below the CA market average of 14.3.

Simply Wall St -

Trade Alert: The Independent Director Of Parex Resources Inc. (TSE:PXT), Ronald Miller, Has Sold Some Shares Recently

Check out our latest analysis for Parex Resources The Last 12 Months Of Insider Transactions At Parex Resources In fact, the recent sale by Ronald Miller was the biggest sale of Parex Resources shares made by an insider individual in the last twelve months, according to our records. … TSX:PXT Recent Insider Trading, July 25th 2019 Does Parex Resources Boast High Insider Ownership? … Insider ownership isn't particularly high, so this analysis makes us cautious about the company.

Simply Wall St -

These Factors Make Parex Resources Inc. (TSE:PXT) An Interesting Investment

Looking at PXT's capital structure, the company has no debt on its balance sheet. … Investors have the opportunity to buy into the stock to reap capital gains, if PXT's projected earnings trajectory does follow analyst consensus growth, which determines my intrinsic value of the company. … Dividend Income vs Capital Gains: Does PXT return gains to shareholders through reinvesting in itself and growing earnings, or redistribute a decent portion of earnings as dividends?

Simply Wall St -

Do Institutions Own Parex Resources Inc. (TSE:PXT) Shares?

View our latest analysis for Parex Resources TSX:PXT Ownership Summary, June 4th 2019 What Does The Institutional Ownership Tell Us About Parex Resources? … As you can see, institutional investors own 43% of Parex Resources. … Insider Ownership Of Parex Resources The definition of an insider can differ slightly between different countries, but members of the board of directors always count.

Simply Wall St -

Is Now The Time To Put Parex Resources (TSE:PXT) On Your Watchlist?

So if you're like me, you might be more interested in profitable, growing companies, like Parex Resources (TSE:PXT). … View our latest analysis for Parex Resources Parex Resources's Improving Profits Over the last three years, Parex Resources has grown earnings per share (EPS) like young bamboo after rain; fast, and from a low base. … As a result, I'm encouraged by the fact that insiders own Parex Resources shares worth a considerable sum.

Simply Wall St -

What You Must Know About Parex Resources Inc.'s (TSE:PXT) Financial Health

Small and large cap stocks are widely popular for a variety of reasons, however, mid-cap companies such as Parex Resources Inc. … Today we will look at PXT’s financial liquidity and debt levels, which are strong indicators for whether the company can weather economic downturns or fund strategic acquisitions for future growth. … View our latest analysis for Parex Resources

Simply Wall St -

Parex Resources (TSE:PXT) Shareholders Have Enjoyed An Impressive 105% Share Price Gain

But on a lighter note, a good company can see its share price rise well over 100%. … One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price. … During the five years of share price growth, Parex Resources moved from a loss to profitability.

Simply Wall St -

Do You Know What Parex Resources Inc.'s (TSE:PXT) P/E Ratio Means?

Parex Resources has a price to earnings ratio of 6.31, based on the last twelve months. … Price to Earnings Ratio = Share Price (in reporting currency) ÷ Earnings per Share (EPS) … P/E of 6.31 = $16.36 (Note: this is the share price in the reporting currency, namely, USD ) ÷ $2.59

Simply Wall St -

How Much Are Parex Resources Inc. (TSE:PXT) Insiders Taking Off The Table?

So shareholders might well want to know whether insiders have been buying or selling shares in Parex Resources Inc. … The Last 12 Months Of Insider Transactions At Parex Resources. … All up, insiders sold more shares in Parex Resources than they bought, over the last year

Simply Wall St -

PXT Company Info

Description

Parex Resources Inc. engages in the exploration, development, production, and marketing of oil and natural gas in Colombia. The company holds interests in onshore exploration and production blocks totaling approximately 2.7 million gross acres. As of December 31, 2019, it had proved plus probable reserves of 198.423 million barrels of oil equivalent. The company was incorporated in 2009 and is headquartered in Calgary, Canada.

Details
Name: Parex Resources Inc.
PXT
Exchange: TSX
Founded: 2009
CA$1,869,972,127
141,023,539
Website: http://www.parexresources.com
Address: Parex Resources Inc.
West Tower,
2700 Eighth Avenue Place,
Calgary,
Alberta, T2P 1G1,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX PXT Common Shares The Toronto Stock Exchange CA CAD 12. Nov 2009
OTCPK PARX.F Common Shares Pink Sheets LLC US USD 12. Nov 2009
DB QPX Common Shares Deutsche Boerse AG DE EUR 12. Nov 2009
Number of employees
Current staff
Staff numbers
0
Parex Resources employees.
Industry
Oil and Gas Exploration and Production
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/06 04:53
End of day share price update: 2020/04/03 00:00
Last estimates confirmation: 2020/04/03
Last earnings filing: 2020/03/10
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.