- Husky and Cenovus have closed their merger transaction, informed both the companies in separate exchange filings.
- Stocks of Husky have rallied by 107 per cent in the last three months. Its 10-day average volume stands at 2.63 million units.
- Units of Cenovus have added 67 per cent growth in the last three months. The energy company’s 10-day average trading volume is nearly 6.45 million units.
Husky Energy Inc (TSX: HSE) and Cenovus Energy Inc (TSX: CVE) merger transaction completed on January 4, 2021, the companies announced in separate statements. The deal was concluded through a final arrangement that was jointly announced on October 25, 2020, under which both energy companies decided to merge in an all-stock transaction.
This merger forms Canada’s third-largest crude oil and natural gas manufacturer, based on the combined production, with nearly 750 thousand barrels of oil equivalent per day of oil and natural gas.
Let us delve into these two trending energy companies’ stock performances:
Husky Energy Inc (TSX: HSE)
Current Stock Price: C$ 6.30
The energy stock has yielded nearly 107 per cent returns in the last three months, guided by the merger development. However, the stock has declined by almost 37 per cent year-to-date (YTD). Its current market cap is approximately C$ 6.33 billion. It ranks among TMX’s top energy companies that have outperformed their peers with the highest price gains in the last 30 days.
Husky’s 10-day average stock trading volume is 2.63 million units and its 30-day trading volume stands at nearly 2.5 million units. The stock is among TMX’s top volume performers. The company has nearly 1 billion listed outstanding shares on the Toronto Stock Exchange (TSX).
The stock has a price-to-book (P/B) ratio of 0.864 and a price-to-cashflow (P/CF) ratio of 4.90. The company distributes a quarterly cash dividend of C$ 0.013, with a present dividend yield of 0.794 per cent. Its current debt-to-equity (D/E) ratio is 1.07, according to the TMX portal.
Cenovus Energy Inc (TSX: CVE)
Current Stock Price: C$ 7.75
Alberta-based energy company’s stocks have soared by almost 61 per cent in the last three months. Although, the unit has decreased by over 40 per cent YTD. The integrated oil company also made it to TMX’s top energy companies.
Cenovus has a current market capitalization of C$ 9.5 billion.
Its 10-day average stock trading volume is 6.45 million units, while its 30-day average volume is 6.6 million. The oil and gas producer is also placed among TMX’s Top Volume performers. The company has around 1.228 billion outstanding shares listed on the TSX.
The energy unit has a present P/B ratio of 0.559 and a current P/CF ratio of 12.50. The stock offers a negative double-digit return on equity of -11.62 per cent, as per TMX data.