Under the influences of various economic and environmental issues such as the aftermath of Hurricane Katrina and trade dispute with the US, crude oil price raised to a record-high. Fluctuations of crude oil price and high uncertainties of the business environment have been a big concern for investors investing in energy companies.
Husky Energy (HE), an Alberta based integrated oil and gas company, is one of the top ten leaders in the industry among Canadian companies. At $57 per share as of October 17, 2005, HE's share price still has potential to increase although it had tripled over the last two years. With ongoing productions in Canada and East Asia, new projects in White Rose and Terra Nova, and future projects in Tucker, Sunrise, and South China Sea, the potential growth of HE can be foresee. Thus, investors should take the opportunity to purchase shares of this growing and profiting energy company.
The results of expansion have shown in the 2005 second quarter intern report. While oil production decreased to 314,200 barrels from 325,400 barrels in the first six months of 2005, HE's net earning continued to increase to $778 million, a $294 million increase compare to the same period in 2004. Also, its earning per share is at $1.84; a $0.60 increase comparing to the same period in 2004. Although HE had an increase in its long term debts of $337 million from $1439 to $1,776 million and a current ratio drop from 0.59 to 0.49, HE equipped itself with a high potential growth in the near future.
Within the last 52 weeks span, the growth of HE stock price at TSX exceeds other similar size competitors such as Suncor Energy and Talisman Energy. Husky's stock price ranged from $30.05 to $69.95, whereas $38.20 to $73.25 and $30.25...