Bullboard - Stock Discussion Forum Parex Resources Inc T.PXT

Alternate Symbol(s): PARXF

Energy Oil & Gas E&P

Parex Resources Inc. is a Canada-based independent oil and gas company in Colombia, focusing on sustainable, conventional production. The company is engaged in the business of the exploration, development, production and marketing of oil and natural gas in Colombia. The Company is focused on development in two main basins: Llanos and Magdalena.

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TSX:PXT - Post Discussion

Parex Resources Inc > Ya, Share Buybacks at $20+ was a mistake.

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Post by CrazyTrader on Dec 20, 2024 8:45am

Ya, Share Buybacks at $20+ was a mistake.

Even buying back at $13 barely makes it over "break-even", adding only about $0.85 cent of "value" per share bought back, and that's towards the total value not per share value on remaining shares.

On P/E and EPS and potential EPS.... SURE, one could say at that time the shares were undervalued at $20+...... but that's in view as an "INVESTMENT" NOT for BUYBACKS.

Currently it's a Screaming BUY based on P/E, EPS, Balance Sheet, Yield as an INVESTMENT but not so much for Buybacks, it's just a BUY for buybacks at current prices, it barely breaks-even.

All just my opinion/view/thinking..... could be out to lunch but don't think so, and nobody has "corrected" me to tell me how wrong I am if I am, so until then, I think my thinking is correct.