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Sydnee Gatewood
Sydnee Gatewood
Articles (3568) 

Royce Investment Partners Comments on Pason Systems

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February 17, 2021 | About:
In a very difficult year for energy-related stocks, Canada's Pason Systems (TSX:PSI) was the portfolio's largest individual detractor. The company, which provides oil field instrumentation largely for onshore rigs, suffered as U.S. rig counts plummeted along with the price of oil in the second quarter before managing a modest recovery in the fourth quarter. The company has a solid balance sheet, a pipeline of new products in the early stages of roll-out, and an excellent competitive position, which lead us to believe it can gain market share in the next energy rebound.

From Chuck Royce (Trades, Portfolio)'s Royce Investment Partners Premier Fund fourth-quarter 2020 manager commentary.

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