Parex reaffirms FY 2026 average production guidance of 63,000-67,000 boe/d
Company maintains H2 2026 average production guidance of 82,000-91,000 boe/d
Analyst coverage and valuation
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the oil & gas exploration and production peer group is "buy"
Wall Street's median 12-month price target for Parex Resources Inc (Alberta) is C$30.50, about 30.2% above its July 30 closing price of C$23.42
The stock recently traded at 6 times the next 12-month earnings vs. a P/E of 23 three months ago
Result drivers and one-time costs
Frontera acquisition - Q2 results reflect increased production and reserves following the June 1 closing of the Frontera transaction
One-time costs - Adjusted funds flow for the quarter included about $59 mln in one-time costs, mainly from transaction-related expenses and realized hedging losses
Higher production expenses - Production expenses trended to the upper end of guidance, driven by elevated energy costs and Colombian peso appreciation
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