HUSKF - Husky Energy Inc.

Other OTC - Other OTC Delayed Price. Currency in USD
6.75
-0.21 (-3.03%)
At close: 3:50PM EDT
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Previous Close6.96
Open6.90
Bid0.00 x 0
Ask0.00 x 0
Day's Range6.73 - 6.91
52 Week Range6.38 - 17.59
Volume9,786
Avg. Volume17,368
Market Cap6.806B
Beta (3Y Monthly)1.33
PE Ratio (TTM)4.80
EPS (TTM)1.40
Earnings DateN/A
Forward Dividend & Yield0.38 (5.50%)
Ex-Dividend Date2019-08-30
1y Target EstN/A
Trade prices are not sourced from all markets
  • Oilprice.com

    Hong Kong Billionaire Loses $20 Billion In Canadian Oil Sands

    Husky Energy has suffered a more than 80 percent drop in its share price and Hong Kong billionaire Li Ka-shing has lost as much as $20 billion

  • Bloomberg

    Li Ka-shing’s Husky Bet Has Lost Over 80% In a Decade

    (Bloomberg) -- Hong Kong billionaire Li Ka-shing’s oil sands investment is hurting -- and some analysts are calling on him to stop the bleeding.Shares of Calgary-based Husky Energy Inc. have plummeted over 80% since its 2008 peak on a myriad of reasons: a slump in oil prices, a dividend suspension, a production cut due to a close call with an iceberg and a failed C$2.75 billion hostile takeover bid for MEG Energy Corp.That has led to the majority stake owned by Li losing C$26.5 billion ($20 billion) in value, according to data compiled by Bloomberg. Li and Hutchison Whampoa, now owned by CK Hutchison Holdings Ltd., became Husky’s majority shareholders in 1991, according to Husky Energy’s website. He retired as head of CK Hutchison and CK Asset Holdings Ltd. last year and handed over the reins to his eldest son Victor Li.The slump in the company’s share price has drawn RBC Capital Markets analysts led by Greg Pardy to contemplate whether the company should consider going private to capture the gap between its market value and its underlying value, and so it can make the right moves without market scrutiny.“If ever there was a time for Husky to consider going private, we believe it is now,” Pardy said in a research report published Monday.Easy Task?While the possibility of taking Husky private, which is about 69%-owned by Li, would make sense, Husky’s lower free cash flow level compared with its peers may not make this a simple task, according to Canoe Financial’s senior portfolio manager Rafi Tahmazian. He added that Asian mogul Li would have to fork out cash over the next few years to meet capital commitments should he decide to take the company private.Husky is a part of the growing list of energy companies that analysts are pitching the idea of going private. Citigroup Inc. said last month that pipeline owner SemGroup Corp. should considering going private because it’s undervalued and may need a few years to address investors’ concerns. In late June, Seaport Global Securities LLC said shale driller Continental Resources Inc. could be a go-private candidate because its management feels like public markets aren’t rewarding “positive behavior in the E&P space.”Shale Billionaire Hamm Says Little Value in His Public ListingHusky’s integrated operations including refining makes the company more resilient to commodity price differential movements and Tahmazian doesn’t see the idea of Husky going private being specific to the company’s woes.“It is the sign of the times that we see these suggestions,” he said.(Updates story with value erased in third paragraph and adds that Li retired last year.)\--With assistance from Pei Yi Mak and Kevin Orland.To contact the reporter on this story: Michael Bellusci in Toronto at mbellusci2@bloomberg.netTo contact the editors responsible for this story: Brad Olesen at bolesen3@bloomberg.net, Divya Balji, Cormac MullenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Reuters

    Canada's Husky to resume full production at offshore White Rose field

    Canada's Husky Energy said on Friday it will resume full production at its White Rose field off the coast of Newfoundland & Labrador, which was shut down last year after an oil spill in November 2018. White Rose production will ramp up to reach full rates of approximately 20,000 barrels per day, net to Husky, by early next week, the company said in a statement. Husky owns 72.5 percent of the field and Suncor Energy owns the remainder.

  • Reuters

    UPDATE 1-Canada's Husky to resume full production at offshore White Rose field

    Canada's Husky Energy said on Friday it will resume full production at its White Rose field off the coast of Newfoundland & Labrador, which was shut down last year after an oil spill in November 2018. White Rose production will ramp up to reach full rates of approximately 20,000 barrels per day, net to Husky, by early next week, the company said in a statement. Husky owns 72.5 percent of the field and Suncor Energy owns the remainder.

  • Reuters

    UPDATE 1-Husky Energy beats profit, boosted by higher crude prices

    Husky Energy Inc reported a better-than-expected quarterly profit on Thursday, as higher Canadian crude prices following Alberta government's mandatory output cuts more than offset the company's lower production and weak refining margins. The Calgary-based company said average realized prices rose 7.3% to $53.35 per barrel of oil equivalent after the mandatory curtailment on oil production during the quarter to ease export pipeline congestion. Husky's average quarterly production fell 9.2% to 268,400 barrels of oil equivalents a day in the reported quarter as the company complied with the curtailments.

  • Reuters

    Husky Energy beats profit, boosted by higher crude prices

    The Calgary-based company said average realized prices rose 7.3% to $53.35 per barrel of oil equivalent after the mandatory curtailment on oil production during the quarter to ease export pipeline congestion. Husky's average quarterly production fell 9.2% to 268,400 barrels of oil equivalents a day in the reported quarter as the company complied with the curtailments. The government's move has been a shot in the arm for some producers, but been detrimental to some integrated companies such as Husky Energy and Imperial Oil , which benefit from low-cost oil to run through their refineries.

  • Reuters

    Husky Energy cuts five-year budget, raises cash flow target

    Husky Energy Inc on Tuesday nearly doubled its free cash flow target over five years and cut its capital spending at a time when investors have been calling on oil and gas companies to shore up capital for buybacks and dividends. Total free cash flow before dividends is expected to reach C$8.7 billion between 2019 and 2023, compared with previous estimate of C$4.8 billion between 2018 and 2022. "Husky's updated five-year plan... achieves a significant increase in free cash flow while increasing production by about 100,000 barrels per day through 2023," said Chief Executive Officer Rob Peabody.

  • Reuters

    Morning News Call - Canada, April 26

    To access a PDF version of this newsletter, please click here http://share.thomsonreuters.com/assets/newsletters/Morning_News_Call/MNCGeneric_CA_04262019.pdf You can read Morning News Call Canada via TOPNEWS ...

  • Reuters

    Husky Energy beats profit estimate on higher margins

    Canada's Husky Energy Inc beat analysts' estimates for quarterly profit on Friday, as it benefited from improved Canadian crude prices following Alberta's output cuts and investment in a number of refineries and pipelines boosted its margins per barrel. The oil and gas producer, which runs drilling and refining businesses in Canada, the United States and Asia, said average realized prices rose to C$47.20 per barrel of oil equivalent (boe) in the first quarter, from C$40.87 per boe a year earlier. In December last year, Alberta mandated temporary oil production cuts to deal with a pipeline bottleneck that had led to a glut of crude in storage and deep price discounts on Canadian crude.

  • Associated Press

    Company will keep using toxic chemical at Wisconsin refinery

    SUPERIOR, Wis. (AP) — Husky Energy said Wednesday that it will invest more than $400 million to rebuild its oil refinery in Superior, Wisconsin, and will continue its use of a highly toxic chemical that raised fears in the community after an explosion at the refinery last April.

  • Oilprice.com

    Oil Slips As Alberta Relaxes Oil Production Cuts

    The Canadian province of Alberta has further relaxed its production cuts, looking to increase the production quota in both May and June

  • Oilprice.com

    Canada’s Oil Patch Divided As Alberta Eases Cuts

    As regulators continue to ease production cuts in Canada, the divide between Canadian oil companies continues as some are asking for new cuts, while others disagree with the OPEC-like measure

  • Reuters

    Husky Energy sees production hit in 2019 from Alberta cuts

    Canadian oil and gas producer Husky Energy Inc said on Tuesday 2019 production could be lower than it had previously expected because of mandatory output cuts imposed by the government of Alberta, sending its shares down 3.5 percent. Husky now expects its output to be in the range of 290,000-305,000 barrels of oil equivalent per day (boe/d). The Canadian province of Alberta mandated temporary oil production cuts effective Jan. 1 to deal with pipeline bottlenecks that led to a crude glut and deep price discounts on Canadian crude.

  • Reuters

    Husky Energy reports 68 pct fall in profit

    Canadian oil and gas producer Husky Energy Inc reported a 68 percent drop in quarterly profit on Tuesday from a year-ago when it recorded a C$436 million deferred tax benefit. Net income fell to C$216 ...

  • Rigzone.com

    Husky Energy Cites Alberta Oil Cuts for Lower 2019 Production

    Canadian oil and gas company Husky Energy has lowered its production forecast due to the Alberta government's mandated oil cuts.

  • Reuters

    Exclusive: Canadian oil firm MEG says Husky balked at friendly takeover talks

    Canadian oil producer MEG Energy Corp's (MEG.TO) CEO invited his Husky Energy Inc (HSE.TO) counterpart this month to negotiate a friendly takeover of MEG, but Husky did not follow up, MEG's vice president of investor relations John Rogers said on Friday. Husky abandoned its hostile bid for MEG on Thursday, saying it could not win sufficient MEG shareholder support after Alberta's government ordered production cuts to reduce a crude glut. MEG produced an estimated 88,000 barrels of oil per day in 2018, according to GMP First Energy, equal to about 40 percent of Husky's production.

  • Reuters

    Husky ends bid for MEG Energy after failing to win shareholder support

    Husky Energy Inc said on Thursday it will not extend its hostile bid for MEG Energy after failing to get sufficient support from the rival oil producer's board and shareholders. Husky had argued the bid offered a premium to MEG's share price, giving investors exposure to Husky's stronger balance sheet and included the prospect of C$200 million per year in synergies.