Topic: How To Invest

Pat: I hold some shares in Husky, and paid a high price for them. What is your view on this stock?

Article Excerpt

Husky Energy Inc., $27.17, symbol HSE on Toronto (Shares outstanding: 849.9 million; Market cap: $23.1 billion), is an integrated oil and gas company. Hong Kong-based billionaire Li Ka-Shing owns 70.6% of Husky’s shares. Husky produces conventional oil and gas across western Canada, as well as heavy oil (a heavy, black viscous oil) at Lloydminster, Saskatchewan, and from the oil sands at Tucker, Alberta. Husky also has major holdings in eastern Canada, including interests in Newfoundland’s Terra Nova and White Rose offshore oil fields. Apart from its exploration and production activities, Husky owns a number of refineries, including a light-oil refinery at Prince George, B.C., and an asphalt refinery at Lloydminster, where it also has a heavy-oil upgrader. (Heavy-oil upgraders take heavy oil and process it into high-quality conventional crude oil.) Husky also has about 500 Husky and Mohawk gas stations in western Canada and Ontario. In December 2007, Husky formed a 50/50 partnership with British Petroleum (symbol BP on New York) to…