19:54:02 EDT Thu 28 Mar 2024
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or Name
USA
CA



Husky Energy Inc
Symbol HSE
Shares Issued 1,005,121,738
Close 2018-11-15 C$ 17.85
Market Cap C$ 17,941,423,023
Recent Sedar Documents

Globe says ARC, rivals hear market playing wait and see

2018-11-16 07:46 ET - In the News

See In the News (C-ARX) ARC Resources Ltd (3)

The Globe and Mail reports in its Friday edition that the disconnect between recent earnings and equity performance has dragged the valuations of some big Canadian energy companies down to levels not seen since the bottom of the global oil crash in early 2016. The Globe's Tim Shufelt writes that Franklin Bissett Investment manager Les Stelmach says there are some good bargains for investors willing to stomach the volatility. On Thursday, the price of Western Canadian Select sank to a new low of just $13.46 (U.S.) a barrel. That made for a hostile environment in which to report financial results, Mr. Stelmach says. Last week, for example, ARC Resources slightly missed earnings expectations, but its underlying business "remains very solid," Mr. Stelmach says. ARC's management outlined a plan with returns that made sense even under the current price environment. Mr. Stelmach says, "The market looked at that and they punished the stock pretty significantly." Veteran energy investor Greg Gibson says investor interest is unlikely to return to the sector in the current commodity environment, and the market is probably waiting to see if oil prices settle into a lower range, or if there is to be a swift recovery.

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