Lowering Our FVE, but Husky Looks Fairly Valued
We are lowering our fair value estimate on Husky Energy to $13 (CAD 17) from $14 (CAD 18) to reflect our lower outlook for price realizations amid IMO 2020 regulations. We are maintaining our no-moat rating. Husky’s stock is still trading near our fair value estimate, and we see minimal upside for investors. While we don't see upside in the stock, investors can collect a stream of cash flows that approximates a forward 3.5% dividend yield, but that lags peers Canadian Natural and Suncor.We cont...
Husky Energy is engaged in the exploration, development and production of oil and natural gas. Co.'s operations are located in Canada and United States. As of Dec. 31, 2011, Co. had total proved oil and natural gas reserves of 1,172.4 million barrels of oil equivalent (Mmboe) gross (1,010.7 Mmboe net).
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