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Suncor Energy Inc. (SU)
NYSE - Nasdaq Real Time Price. Currency in USD
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As of 11:48AM EST. Market open.
11,319 reactions on $SU conversation
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See 2021 outlook regarding dividend.
"Our commitment to returning cash to shareholders remains.
As market demand recovers and commodity prices increase,
we aim to deliver increased cash returns to our shareholders,
targeting annual cash returns of 6 to 8%"
Suncor is going back to pre covid levels. Especially now with the commodity of Oil set to keep rising from here!
To all suncor share holders
Don’t sell your stock this is the year for oil stocks recovery
Oil is over $60 that’s where you have to have faith on your investment good luck
Im not going to lie to you guys. I bought in when this was at 27.80$ in July 2020. Right after it dropped to 24$ and slowly downwards to 15$. I couldn't gut the lost so I stuck with this as it was 70% of my portfolio. I was averging down since with all the money I could get in. I took 2/3 of my investment profit out today. I have cash and will buy more if it drops tomorrow or next week. Still holding till 40$ with the rest. I would've cashed out all if this wasn't a solid company.
xxon slashed its oil reserves by almost a third in what is the most radical reserve revision in the company’s modern history.
The supermajor reported reserves totaling 15.3 billion barrels as of the end of 2020 in a regulatory filing, cited by Bloomberg. This compared with 22.44 billion barrels a year earlier.
The biggest chunk of “deleted” assets came from Canadian oil sands: Exxon removed almost all of its oil sands holdings from its books as of the end of last year. This, however, does not mean they are gone forever.
“Among the factors that could result in portions of these amounts being recognized again as proved reserves at some point in the future are a recovery in the SEC price basis, cost reductions, operating efficiencies, and increases in planned capital spending,” Exxon said in its filing.
Based on this information, does it mean that Exxon has actually stopped production in oil sands? If so, I would see that being a great change for operators like Suncor as it prioritizes their need for increased production (already happening) and pipeline capacity to export to the USA.
Don't panic this is healthy. We can't expect green everyday. The whole market is red across the board.
People need to understand that whether they like it or not at 63$ a barrel of oil, this company is printing money, eventually this fact will be reflected on the stocks price. Yes...eventually, not tomorrow not perhaps a month from now, how about in a year? is that too long?
A lot of people out there just want everything good to happen right away, instant gratification syndrome, they have to learn patience. Fundamentals are there just need time.
All these people... omg omg omg... price is dropping. Even if this is going to $30s or $40s, there are dips on the way. It doesn't just keep going up.
Markets turning green, let's wait and see, hopefully green day for su
Oil prices are set to rise by the fastest rate since the 1970s over the next three years, Bank of America said in a new report, joining the growing group of analysts forecasting a return of oil to three-digit territory.
The average price of Brent over the next five years, however, will be between $50 and $70 per barrel, according to the bank, as quoted by The National.
The bank also said OPEC+ might decide to reverse its production cuts now that Brent is trending above $60, but added that a slow return of U.S. shale to international markets might lead to an extension of the production cut agreement to make sure prices stay higher.
People always say Suncor should buy up smaller, cheaper Oil Sands companies. It only makes sense to buy up smaller assets if they’re more efficient than a business’s own assets.
Suncor is so valuable that it’s illegal to buy... Smaller Canadian companies are not a target for Suncor. Rather, Suncor is an ideal target for purchase by larger, US integrateds.
However, the purchase of Suncor by a business such as Exxon would be illegal since the entire North American market would be price fixed.
SHERYL & IAN
I Laugh at the guys getting ready to short lol. stock is just broke out of its trading range, is being underpinned by an energy market that is looking better everyday, and is historically very undervalued based current strip pricing ( which continues to get better) and the Wall street narrative is growing more bullish on energy for the first time in a long time. Really, shorting is your best idea? of course when you see technical corrections on the overall positive trend, they will say they timed all the small pull backs perfectly - after the fact. You are going to short a stock trading at probably 3x cashflow and not focus on stocks like SNAP that trade at 40x book, can't generate any cashflow and have a market cap of 100b USD. have fun with that.
You guys buy and hold an undervalued stock so you can sell when it starts to recover... the point is to sell when it fully recovers, not when it starts to recover. Lol. This is why most people don't make money in the markets
Glad I slept through open lol. Looks like $25 will be support. If the market settles down next target is $29.25.
Gonna buy a gas guzzling Corvette with my Suncor gains, and off course i always fill at their gas stations. Gotta support businesses where my investments are. $40 by end of march
What are your region’s gas prices? Halton, Ontario is $1.17 on the low end past 2 weeks where the average 2020 price was around $0.90
I literally bought at the top top yesterday :(
BNN Bloomberg: While oil’s dizzying collapse is still fresh for many traders, rumblings are starting to emerge that by the end of next year prices could once again top US$100 a barrel.
Azerbaijan’s Socar Trading SA predicts global benchmark Brent could hit triple digits in the next 18 to 24 months, and Bank of America sees potential spikes above US$100 over the next few years on improving fundamentals and global stimulus. Speculators are also getting in on the action, increasing bets in the options market that oil will reach the vaunted level by December 2022.
The views are ultra bullish, but they highlight increased confidence in the oil market after Brent rallied more than 200 per cent after hitting an 18-year low during the pandemic. Demand has bounced back in key Asian markets, while OPEC+ is withholding barrels and a lack of investment is keeping shale supplies at bay. Goldman Sachs Group Inc. this week lifted its third-quarter forecast by US$10 to US$75 a barrel.
Option bets on oil prices rising above US$100 for the December 2022 Brent contract have jumped in recent days, with open interest on the calls rising from 500 to 3,950 in the past week.
The US$100 mark occupies a special place in the mind of many traders, as oil hovered around that level for several years in the early part of last decade as strong demand from emerging markets enticed drillers into ever more expensive locales, from deep ocean beds to Canada’s remote tar sands.
Expect a huge number of block trading before closing bell.
Just look at volume before closing.
Probably for all oil sector.
Suncor released annual filing disclosure! Great prospects ahead! Cheers longs 👍🏻
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