Parex’s share price has been one of the best Canadian energy stocks both year to date and in 2018.
Year to date its total return is up almost 26% vs 7.6% for the iShares XEG ETF.
Even in a bad year last year for energy stocks, Parex only fell 10% vs a 27% decline for the XEG sector benchmark
The company receives the higher Brent crude prices
Parex has a strong balance sheet with no debt and working capital at the end of last year of $215 million US
Proven and probable reserves rose 27% last year
The company has strong self funded organic production growth
The company is expected to report its quarterly earnings this week.
While the shares are not cheap relative to its peers, the company continues to deliver strong results