Parex Resources Inc T.PXT

Expected EPS for 3Q is $1.20

[JoeBravo1]

2Q had an uexpected miss in earnings due to a one time tax expense.

Watch for EPS reported after hours today to be back to normal, with expectations of $1.20 EPS for 3Q 2024.

I'm also hoping to see FFO around $1.50 or better, but as long as it's in that range it will be fine with me.

Buybacks should resume Thursda, after blackout period ends, so more support for the share price by the company, and also good to see Insiders which bought back in Sept and earlier this year.  Insider buying is always a good sign.

Buybacks not only reduce the O/S, they help increase EPS, and they reduce the amount of total dividend paid thus saving the company money.  It's a win/win situation.  Looking forward to PXT again trading in the high teens by eoy or early 2025.

[CrazyTrader]

WOW Joe, $1.20 EPS is what you are expecting!    Are you forgetting..... 1) oil prices are down. 2) Taxes are never a "one time" event.  There's a reason for Q2 taxes.  We will soon see how much taxes Q3 are, I'm guessing a lot still. 3) Arauca and possible writedowns

[JoeBravo1]

CT, $1.20 EPS are Analyst exptations. Yes, WOW.  You sure that you're a shareholder?  You don't sound like one.

[CrazyTrader]

LOL .... Yes I'm sure I'm a shareholder.    I'm just trying to be TRUTHFUL to myself.    Just because I'm a shareholder doesn't mean I don't discuss/consider any NEGATIVES and just come out here and PUMP the stock and end up tricking myself. I look at both the PROS and the CONS.....  RISKS and REWARDS.   Biggest RISK for PXT I think

[JoeBravo1]

To be honest, my Broker has an EPS estimate of $0.86 for 3Q 2024. The $1.20 EPS estimate comes from the Yahoo site.  I'll be fine with either one, as I've stated before I'm more interested in Funds From Operations. These are the Funds available to pay for Dividends, Share Buybacks, and to reinvest in the company and help it grow. So far, Parex has produced enough FFO to sustain

[CrazyTrader]

Book Value of $26.18 ????!!!!!! From Q2... Equity was $1,925,650,000. Share Outstanding was 101,615,686 shares That makes Book Value $18.95. If they can't get Book Value correct..... I wouldn't trust their estimates too much.

[JoeBravo1]

Usually they are on the ball, but after checking over some facts, they seem to have that part incorrect. I've sent out an email asking they look into it.

[JoeBravo1]

In any case, Parex is selling well below Book Value. I'll take the nearly 12% Annual Yield, and wait for the share price to recover.  I don't mind getting paid to wait, lol.

[FindsomeValue]

I believe the book value is in USD and the stock price is in CAD.  

[CrazyTrader]

Thank You FindsomeValue, Mystery Solved.    Book Value of $18.95 is in USD.   That's about $26.24 CAD.      So, Joe, you are correct.