Is Husky Energy worth watching? By continuing to use our site, you agree to our Terms of Service and Privacy Policy. 365 Bloor Street East, Toronto, Ontario, M4W 3L4. Please try again. On Oct. 25, no-moat Cenovus Energy (CVE) announced it will combine with Husky Energy (HUSKF) in an all-stock deal. 13 stock analysts on Stockchase covered Husky Energy In the last year. The transaction has been unanimously approved by the boards of directors of Cenovus and Husky and is expected to close in the first quarter of 2021, the companies said. Comments may take up to an hour for moderation before appearing on the site. Husky shareholders will receive 0.7845 of a Cenovus share and 0.0651 of a Cenovus share purchase warrant in exchange for each Husky common share, according to the statement. Canadian oil and gas producer Cenovus Energy Inc will buy peer Husky Energy Inc in an all-stock transaction valued at US$23.6 billion, inclusive of debt, the companies said in a … A welcome email is on its way. That followed Chevron Corp’s $4.2 billion purchase of Noble Energy. Cenovus Energy (NYSE:CVE) agrees to acquire Husky Energy (OTCPK:HUSKF) in an all-stock transaction, creating an integrated Canadian oil and … National Bank Financial’s target price points to a potential upside of 11.42% from the company’s previous close. It is a trending stock that is worth watching. There was an error, please provide a valid email address. Cenovus CEO Alex Pourbaix will serve as chief executive of the merged company with Jeff Hart, currently Husky’s finance chief, becoming chief financial officer. Husky Energy Inc. (HSE.TO) (TSE:HSE) was downgraded by National Bank Financial from a “sector perform” rating to a “tender” rating in a report released on Monday, BayStreet.CA reports. Cenovus Energy Inc has agreed to buy rival Husky Energy Inc in an all-stock deal valued at C$3.8 billion ($2.9 billion) to create Canada’s No. Article content. Stock analysis for Husky Energy Inc (HSE:Toronto) including stock price, stock chart, company news, key statistics, fundamentals and company profile. Concho Resources Inc agreed this month to being taken over by ConocoPhillips for $9.7 billion. Read stock experts’ recommendations for help on deciding if you should buy, sell or hold the stock. 3 oil and gas producer as a pandemic-driven demand collapse and weak oil prices force the industry to consolidate. We ask you to keep your comments relevant and respectful. If you don't see it please check your junk folder. This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. Cenovus’ deal for Husky is valued at C$23.6 billion, including debt, the companies said in a joint statement. We encountered an issue signing you up. What is Husky Energy stock price? Since then, HSE shares have decreased by 4.8% and is now trading at C$3.16. This advertisement has not loaded yet, but your article continues below. WINNIPEG/TORONTO (Reuters) - Cenovus Energy's acquisition of Husky Energy creates a new Canadian-owned major oil producer and lends the long-struggling oil patch greater stability during its biggest crisis in decades, with investors betting on further deals. Here's why you need to avoid energy stocks, such as Husky Energy, that may be a value trap rather than a contrarian buy. The combined company is expected to generate annual synergies of C$1.2 billion and will operate as Cenovus Energy Inc with headquarters in Alberta, Canada, the statement said. The next issue of Top Stories Newsletter will soon be in your inbox. Cenovus Energy Inc has agreed to buy rival Husky Energy Inc in an all-stock deal valued at C$3.8 billion ($2.9 billion) to create Canada’s No. © 2020 Financial Post, a division of Postmedia Network Inc. All rights reserved. Cenovus said the deal would create Canada’s third-largest producer based on total company output. Unauthorized distribution, transmission or republication strictly prohibited. 3 oil and gas producer as a pandemic-driven demand collapse and weak oil prices force the industry to consolidate. Read more about cookies here. Canadian companies have been under stress for six years, dating back to the last downturn, due to congested pipelines and the flight by foreign oil companies and investors due to Canada’s high production costs and emissions. Visit our Community Guidelines for more information and details on how to adjust your email settings. Canada's Cenovus Energy to buy Husky Energy for $2.9 bln, tap here to see other videos from our team. ($1 = 1.3132 Canadian dollars) (Reporting by Ann Maria Shibu in Bengaluru; additional reporting by Rod Nickel in Winnipeg Editing by Susan Fenton and Nick Zieminski). Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc. They currently have a C$4.00 price target on the stock. Cenovus said the combined company will be able to produce 750,000 barrels of oil equivalent per day (BOE/d). The deal, announced on Sunday, is the largest in the Canadian energy sector since the start of the pandemic, and follows recent big deals in the United States.
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