01:28:42 EDT Fri 09 Jun 2023
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Parex Resources Inc
Symbol PXT
Shares Issued 112,362,423
Close 2022-09-06 C$ 21.08
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Globe says Parex called Canada's "best-run" oil company

2022-09-06 07:38 ET - In the News

The Globe and Mail reports in its Saturday, Sept. 3, edition that Mawer Investment manager Jeff Mo uses a long-term strategy focused on picking companies that are cheap, with good management and a competitive advantage in their industry. The Globe's regular guest columnist Brenda Bouw writes that Mr. Mo says: "We can't predict the entire macro-economy. Instead, we try to predict how long the company's competitive advantages will last." Mr. Mo says he uses a bottom-up stock selection style, meaning he analyzes companies one at a time, trying to find the best companies in the market to invest in. Mr. Mo is betting on Parex Resources. He notes that Parex is one of the only oil and gas companies in Canada trading at a lower valuation than in 2018. He says, "That's because 100 per cent of its production is in Colombia, which recently elected a leftist President who has plans to ban the granting of new lands for drilling." Mr. Mo notes that Parex has plenty of land assets that have not yet been fully explored. As well, it could boost production at existing projects. Mr. Mo believes Parex is one of "the best-run oil companies in Canada, with a good track record of delivering strong returns on invested capital."

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