EPS of $0.96 beat estimates of $0.8453, and the company generated funds from operations of $162M. Quarter-to-date the company is estimating to produce 55,000 boe/d and it is on track to meet the lower end of FY2023 production guidance of 57,000 to 63,000 boe/d. Its suspension of operations at Capachos was a main driver of its decrease in production, but production per share has increased by 9% over the past year. RBC downgraded PXT to sector perform as its discounted valuation relative to peers has narrowed. RBC essentially believes that the company's execution has been strong but that a lot of its positive developments have already been priced in by investors. We feel that these are decent results and it continues to trade at a cheap valuation of 3.6X forward earnings.
5i Research Answer: