TSX:HSE.PR.B - Post by User
Post by
Longvalueon Oct 28, 2016 5:33pm
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Post# 25400500
What is frustrating for holders...
What is frustrating for holders...is that other Canadian integrateds such as Suncor, Imperial and Cenovus are well off their lows, while Husky doesn't seem to be scraping the bottom. I would have thought the resolution of the CNOOC deal + the rally since the informal OPEC meeting would have resulted in a gradual drift upwards to the $ 18-20 range. It is very disappointing to see Husky drop back below $15. It doesn't seem anything but clear production growth will lift the share price. As a long-term investor, since they already cut the dividend, I hope when they do reinstate it they keep it minimal ($ 0.05/qtr) and redirect excess cashflow to investing in their Lloyd Thermals. With oil at $50 they should have the free cash flow to sanction 3 X 10 000 barrel projects and move to a firm growth path in the next year. I believe that is the only thing the market will respond to.