{"id":330895,"date":"2024-12-13T00:39:28","date_gmt":"2024-12-12T16:39:28","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=330895"},"modified":"2024-12-13T00:38:38","modified_gmt":"2024-12-12T16:38:38","slug":"stock-in-focus-pxp-energy-corp-pxp-13-dec-2024-by-regina-capital-development-corp","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/stock-in-focus-pxp-energy-corp-pxp-13-dec-2024-by-regina-capital-development-corp\/","title":{"rendered":"Stock in Focus: PXP Energy Corp. (PXP) – 13 Dec 2024 by Regina Capital Development Corp."},"content":{"rendered":"\n

Summary of Broker’s Recommendation<\/h2>\n\n\n\n
Stock Code<\/strong><\/td>PXP<\/td><\/tr>
Company Name<\/strong><\/td>PXP Energy Corp.<\/td><\/tr>
Broker<\/strong><\/td>Regina Capital Development Corp.<\/td><\/tr>
Opinion Issued on<\/strong><\/td>13 Dec 2024<\/td><\/tr>
Recommendation<\/strong><\/td>Hold<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 3.05<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

PXP ability to manage costs efficiently and execute key projects effectively is essential to navigating operational and market uncertainties, which will be critical in mitigating risks and maximizing asset value. Given the limited upside potential on our Target Price of P3.05, we are issuing a Hold recommendation on PXP.<\/p>\n\n\n\n

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Analysis and Opinion<\/h2>\n\n\n\n

PXP Energy Corp. (PXP) operates in a challenging global oil and gas landscape shaped by energy transition pressures, geopolitical risks, and volatile oil prices, which stabilized around $81 per barrel.<\/p>\n\n\n\n

Locally, the Philippine government\u2019s push for energy security through initiatives like the Philippine Conventional Energy Contracting Program (PCECP) faces delays due to regulatory challenges, including force majeure in SC 72 and SC 75. In 3Q24, PXP reported revenues of P21.9 million, a decline due to lower crude oil prices, though its year-to-date petroleum revenues rose to P64.8 million, driven by production from the Galoc Oil Field.<\/p>\n\n\n\n

Net loss improved to P14.8 million from P21.6 million, aided by a -10% y\/y reduction in administrative expenses, though exploration costs and project delays kept losses significant.<\/p>\n\n\n\n

Total assets stood at P3.1 billion as of September 2024, while cash reserves fell to P100.1 million due to exploration activities. PXP continues to advance exploration efforts, including surveys in SC 40 and redevelopment of mature fields like SC 14C-2 and SC 6B, while pursuing new service conteracts under PCECP.<\/p>\n\n\n\n

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Check how many brokers recommend this stock<\/h2>\n\n\n\n
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All Stock Rankings<\/a><\/blockquote>