The stock of Husky Energy Inc. (TSE:HSE) gapped up by $0.66 today and has $16.40 target or 5.00% above today’s $15.62 share price. The 6 months technical chart setup indicates low risk for the $15.56 billion company. The gap was reported on Nov, 30 by Barchart.com. If the $16.40 price target is reached, the company will be worth $778.00M more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 815,542 shares traded hands. Husky Energy Inc. (TSE:HSE) has declined 7.72% since April 26, 2016 and is downtrending. It has underperformed by 12.95% the S&P500.
Husky Energy Inc. (TSE:HSE) Ratings Coverage
Out of 7 analysts covering Husky Energy Inc. (TSE:HSE), 5 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 71% are positive. $32 is the highest target while $16 is the lowest. The $18.83 average target is 20.55% above today’s ($15.62) stock price. Husky Energy Inc. has been the topic of 25 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The company was upgraded on Thursday, November 5 by FirstEnergy Capital. Desjardins Securities upgraded the shares of HSE in a report on Tuesday, June 28 to “Buy” rating. The firm earned “” rating on Monday, June 6 by Raymond James. RBC Capital Markets maintained the shares of HSE in a report on Wednesday, December 9 with “Outperform” rating. The firm has “Outperform” rating by BMO Capital Markets given on Monday, November 2. RBC Capital Markets maintained the stock with “Outperform” rating in Wednesday, October 26 report.
More notable recent Husky Energy Inc. (TSE:HSE) news were published by: Wsj.com which released: “Husky Energy to Sell Stake in Assets to Li Ka-shing-Controlled Companies” on April 26, 2016, also Wsj.com with their article: “Husky Energy Swings to Profit on Gains” published on October 27, 2016, Wsj.com published: “Canada’s Husky Energy Slashes Budget, Suspends Dividend” on January 19, 2016. More interesting news about Husky Energy Inc. (TSE:HSE) were released by: Moodys.com and their article: “Moody’s confirms Husky Energy’s Baa2 rating; outlook stable” published on February 19, 2016 as well as Bloomberg.com‘s news article titled: “Husky Said Near Deals to Sell 5 E&P Packages for C$400 Million” with publication date: May 11, 2016.
Husky Energy Inc. is an integrated energy company. The company has a market cap of $15.56 billion. The Company’s Upstream segment includes exploration, development and production of crude oil, bitumen, natural gas and natural gas liquids, and marketing of the Company’s and other producers’ crude oil, natural gas, natural gas liquids, sulfur and petroleum coke, pipeline transportation, the blending of natural gas and crude oil, and storage of crude oil, diluent and natural gas. It has a 25.09 P/E ratio. Upstream activities are located primarily in Western Canada, offshore East Coast of Canada, offshore China and offshore Indonesia.
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