MEG stock selling or?

[shooter12]

What do you guys are gonna do with your MEG shares after Husky is buying the company ?
Sell it or keep it?
I bought some in the past and can make couple bucks ,but what you savvy people think about that?

Thanks

S12

[Dean2]

If you check the history on Husky shares you will see that even when oil was strong their share performance sucked. Petro Canada and Husky were two of the worst performing stocks individually. Petro Canada did better after Suncor bought them out but Husky has continued to languish. Despite their great assets, and many advantages this is a terribly managed company. It is sort of like Bombardier. You would think it should be cheap at these prices but it is so badly trun it just never goes up.

Husky has gone from 35 in 2013 to 14.80 today, and even at those depressed prices the dividend isn't very big. I would get out with my profits intact and call her good.

[shooter12]

Originally Posted by Dean2

If you check the history on Husky shares you will see that even when oil was strong their share performance sucked. Petro Canada and Husky were two of the worst performing stocks individually. Petro Canada did better after Suncor bought them out but Husky has continued to languish. Despite their great assets, and many advantages this is a terribly managed company. It is sort of like Bombardier. You would think it should be cheap at these prices but it is so badly trun it just never goes up.

Husky has gone from 35 in 2013 to 14.80 today, and even at those depressed prices the dividend isn't very big. I would get out with my profits intact and call her good.

Got it!
Thanks!

[ESOXangler]

Remember that husky is 75% owned by one really old man. Hence the issues with share price. Hes going to be tapping out soon and his kids will tear his empire apart. Or cnnoc will assume it.

[bdub]

I don't know much about either company. I guess in hostile bid it all comes down to whether you believe that another company will end up offering more than Husky is willing to offer. In this environment it is doubtful but tough to say. Things can change awful quickly in markets. I understand the deal is a combination Husky shares and cash (correct me if I am wrong). Canadian oil stocks are all down here, not at their lows, but close. We could see some improvement in that front. Oil prices could go for a run. Who knows. I would hold on to them until very close to the deal closing in the hopes of another offer at this point. In hindsight, it would have been wise too sell at least some of your shares as soon as the offer was made, at least half of your position anyway. But hindsight is always 100%. Good luck S12.

[dmac]

Originally Posted by ESOXangler

Remember that husky is 75% owned by one really old man. Hence the issues with share price. Hes going to be tapping out soon and his kids will tear his empire apart. Or cnnoc will assume it.

Berkshire Hathaway is owned by an old guy also. They seem to be doing all right. As a matter of fact most successful companies are owned by old guys.

That said, I lost patience and sold husky at a loss, if you can make some dough, you'll never regret it.

[Dean2]

So did you sell your MEG shares before Husky withdrew its bid? If not, share price dropped 40% after the bid was removed.

[fishtank]

Gonna have to hold on for a while. Reason given was the

(Reuters) - Canadian oil producer Husky Energy shocked investors on Thursday when it abandoned its hostile bid for MEG Energy, saying it could not win sufficient MEG shareholder support after Alberta's government ordered production cuts to reduce a crude glut.

[Jim Blake]

Originally Posted by Dean2

So did you sell your MEG shares before Husky withdrew its bid? If not, share price dropped 40% after the bid was removed.

Now watch the unsolicited offers (hostile takeovers) begin!!

[Dean2]

Originally Posted by Jim Blake

Now watch the unsolicited offers (hostile takeovers) begin!!

I really doubt that is going to happen. Husky offered a premium to the MEC stock price, now that is off the table, share price sank to previous levels. 52 week range is $4.27 to $11.70 now at $5.46.

[fishtank]

Originally Posted by Dean2

I really doubt that is going to happen. Husky offered a premium to the MEC stock price, now that is off the table, share price sank to previous levels. 52 week range is $4.27 to $11.70 now at $5.46.

they will be back . once the ndp and liberal are gone

[Deer Hunter]

HSE will buy something else. They're not done.

[Dean2]

Originally Posted by Deer Hunter

HSE will buy something else. They're not done.

Big reason Husky wanted it was to capture the the production of REALLY cheap oil as feed stock for their refineries. Now that Alberta Select is within $8 of West Texas Crude, rather than the $35 difference it was at, big advantage to the purchase disappeared. You will also see this affect Husky profits in a big way if Alberta Select stays this close to WTI, despite the fact Husky produces almost everything they process. Sixty percent of their net profit, being $448 million is the result of Downstream operations and in 2017 they only made 786 million total on all operations, on 19 billion in revenue. I would be getting rid of Husky stock if I owned any.

[Dean2]

For those of you interested in Husky, they just announced there earnings. Income dropped 68% from $672 million to $216 from Q4 last year to Q4 this year. Hope you all dumped your Husky shares a while ago and long before this came out. In the last year alone shares have dropped from $23 to $14.

[2011laramie]

Is husky gonna buy devon's Canada assets?