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Kiwetinohk Energy Corp. ( (TSE:KEC) ) has issued an announcement.
Cygnet Energy Ltd. has completed its acquisition of Kiwetinohk Energy Corp. for $24.75 per share through a court-approved plan of arrangement, with certain ARC Financial-advised funds partially rolling their Kiwetinohk holdings into Cygnet equity. Following the deal, Kiwetinohk’s shares will be delisted from the Toronto Stock Exchange and it will seek to cease being a reporting issuer, while the combined entity emerges as a leading operator of over 44,000 boe/d of liquids-weighted Duvernay and Montney production in the Simonette and Placid areas, benefiting from greater infrastructure control, long-term gas transportation capacity and a sizable drilling inventory that strengthens its competitive position in Western Canada’s upstream market.
The most recent analyst rating on (TSE:KEC) stock is a Buy with a C$26.00 price target. To see the full list of analyst forecasts on Kiwetinohk Energy Corp. stock, see the TSE:KEC Stock Forecast page.
Spark’s Take on TSE:KEC Stock
According to Spark, TipRanks’ AI Analyst, TSE:KEC is a Neutral.
Kiwetinohk Energy Corp. presents a mixed stock profile. Strong corporate events and strategic moves bolster the company’s outlook, but financial performance reveals challenges with profitability and liquidity. Technical indicators suggest neutrality, while valuation concerns persist due to a high P/E ratio and lack of dividend yield. Overall, the stock scores moderately, underscoring resilience amid financial and market challenges.
To see Spark’s full report on TSE:KEC stock, click here.
More about Kiwetinohk Energy Corp.
Kiwetinohk Energy Corp. operates in the Canadian oil and gas sector, focused on liquids-weighted Duvernay and Montney resource development in central Alberta, while Cygnet Energy Ltd. is a private exploration and production company pursuing scalable resource opportunities across the Western Canadian Sedimentary Basin.
Average Trading Volume: 42,520
Technical Sentiment Signal: Buy
Current Market Cap: C$1.08B
Find detailed analytics on KEC stock on TipRanks’ Stock Analysis page.