DB:QPX

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Parex Resources

Executive Summary

Parex Resources Inc. engages in the exploration, development, production, and marketing of oil and natural gas in Colombia.


Snowflake Analysis

Flawless balance sheet and good value.

Share Price & News

How has Parex Resources's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: QPX's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-4.7%

QPX

10.0%

DE Oil and Gas

1.5%

DE Market


1 Year Return

-23.1%

QPX

26.9%

DE Oil and Gas

-0.2%

DE Market

Return vs Industry: QPX underperformed the German Oil and Gas industry which returned 26% over the past year.

Return vs Market: QPX underperformed the German Market which returned 0.1% over the past year.


Shareholder returns

QPXIndustryMarket
7 Day-4.7%10.0%1.5%
30 Day3.0%14.8%5.7%
90 Day-17.1%-8.2%-2.7%
1 Year-23.1%-23.1%30.6%26.9%1.5%-0.2%
3 Year-5.2%-5.2%-2.8%-12.1%-7.1%-14.3%
5 Year37.1%37.1%158.1%121.4%5.2%-8.3%

Price Volatility Vs. Market

How volatile is Parex Resources's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Parex Resources undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: QPX (€10.2) is trading below our estimate of fair value (€45.75)

Significantly Below Fair Value: QPX is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: QPX is good value based on its PE Ratio (6.9x) compared to the Oil and Gas industry average (7.9x).

PE vs Market: QPX is good value based on its PE Ratio (6.9x) compared to the German market (19.3x).


Price to Earnings Growth Ratio

PEG Ratio: QPX's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: QPX is overvalued based on its PB Ratio (1.2x) compared to the DE Oil and Gas industry average (1.1x).


Next Steps

Future Growth

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

-9.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: QPX's earnings are forecast to decline over the next 3 years (-9.4% per year).

Earnings vs Market: QPX's earnings are forecast to decline over the next 3 years (-9.4% per year).

High Growth Earnings: QPX's earnings are forecast to decline over the next 3 years.

Revenue vs Market: QPX's revenue (5.1% per year) is forecast to grow slower than the German market (5.8% per year).

High Growth Revenue: QPX's revenue (5.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if QPX's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Parex Resources performed over the past 5 years?

64.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: QPX has high quality earnings.

Growing Profit Margin: QPX's current net profit margins (26%) are lower than last year (47.2%).


Past Earnings Growth Analysis

Earnings Trend: QPX has become profitable over the past 5 years, growing earnings by 64.4% per year.

Accelerating Growth: QPX's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: QPX had negative earnings growth (-41.3%) over the past year, making it difficult to compare to the Oil and Gas industry average (-8.4%).


Return on Equity

High ROE: QPX's Return on Equity (17.9%) is considered low.


Next Steps

Financial Health

How is Parex Resources's financial position?


Financial Position Analysis

Short Term Liabilities: QPX's short term assets ($506.5M) exceed its short term liabilities ($176.1M).

Long Term Liabilities: QPX's short term assets ($506.5M) exceed its long term liabilities ($83.1M).


Debt to Equity History and Analysis

Debt Level: QPX is debt free.

Reducing Debt: QPX has no debt compared to 5 years ago when its debt to equity ratio was 5.9%.

Debt Coverage: QPX has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: QPX has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


Next Steps

Dividend

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


Dividend Yield vs Market

Notable Dividend: Unable to evaluate QPX's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate QPX's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if QPX's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if QPX's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of QPX's dividend in 3 years as they are not forecast to pay a notable one for the German market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.9yrs

Average management tenure


CEO

Dave Taylor (63yo)

3.08yrs

Tenure

US$2,718,571

Compensation

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 Pre ...


CEO Compensation Analysis

Compensation vs Market: Dave's total compensation ($USD2.00M) is above average for companies of similar size in the German market ($USD1.53M).

Compensation vs Earnings: Dave's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
David Taylor
President3.08yrsUS$2.72m0.40% $5.5m
Kenneth Pinsky
CFO & Corporate Secretary10.75yrsUS$1.70m0.24% $3.4m
Eric Furlan
Chief Operating Officer2.33yrsUS$1.53m0.12% $1.6m
Ryan Fowler
Senior Vice President of Exploration & Business Developmentno dataUS$1.32m0.079% $1.1m
Leo DiStefano
President & Country Manager of Parex Resources Colombia2.92yrsUS$1.65m0.13% $1.8m
Michael Kruchten
Senior Vice President of Capital Markets & Corporate Planning1.33yrsno data0.048% $662.7k
Jeff Meunier
Vice Presidentno datano data0.0042% $57.9k
Cam Grainger
Controllerno datano datano data

2.9yrs

Average Tenure

Experienced Management: QPX's management team is considered experienced (2.9 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
David Taylor
President3.08yrsUS$2.72m0.40% $5.5m
Lisa Colnett
Independent Director5.08yrsUS$201.46k0.0033% $45.4k
Robert Engbloom
Lead Independent Director3.08yrsUS$219.85k0.063% $867.8k
Wayne Foo
Chairman of the Board3.08yrsUS$259.95k1.17% $16.1m
Glenn McNamara
Independent Director3.67yrsUS$191.96k0.0042% $58.4k
Paul Wright
Independent Director10.75yrsUS$195.09k0.027% $367.6k
George MacDougall
Independent Director3.67yrsUS$201.46k0.023% $320.0k
Sigmund Cornelius
Independent Director0.083yrno datano data
Carmen Sylvain
Independent Director2.92yrsUS$177.96k0.0024% $33.5k

3.1yrs

Average Tenure

62yo

Average Age

Experienced Board: QPX's board of directors are considered experienced (3.1 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: QPX insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Parex Resources Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Parex Resources Inc.
  • Ticker: QPX
  • Exchange: DB
  • Founded: 2009
  • Industry: Oil and Gas Exploration and Production
  • Sector: Energy
  • Market Cap: CA$2.098b
  • Listing Market Cap: CA$1.384b
  • Shares outstanding: 135.56m
  • Website: https://www.parexresources.com

Number of Employees


Location

  • Parex Resources Inc.
  • West Tower
  • 2700 Eighth Avenue Place
  • Calgary
  • Alberta
  • T2P 1G1
  • Canada

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PXTTSX (The Toronto Stock Exchange)YesCommon SharesCACADNov 2009
QPXDB (Deutsche Boerse AG)YesCommon SharesDEEURNov 2009
PARX.FOTCPK (Pink Sheets LLC)YesCommon SharesUSUSDNov 2009

Biography

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. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/06/01 23:26
End of Day Share Price2020/05/29 00:00
Earnings2020/03/31
Annual Earnings2019/12/31


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.