08:32:47 EDT Fri 19 Apr 2024
Enter Symbol
or Name
USA
CA



Suncor Energy Inc
Symbol SU
Shares Issued 1,471,144,790
Close 2014-03-19 C$ 36.54
Market Cap C$ 53,755,630,627
Recent Sedar Documents

Successful Inv refreshes Suncor Energy buy

2014-03-20 18:02 ET - In the News

The Successful Investor, in the March, 2014, issue, refreshes its buy of Suncor Energy Inc., recently $36. The Investor said buy eight times from October, 2009, to November, 2013, at prices ranging from $30 to $39. A $1,000 investment for each of the eight buys is now worth $8,244. Suncor produced 558,100 barrels of oil equivalent a day in the quarter ended Dec. 31, 2013, up slightly from 556,500 barrels a day in the same period last year. The oil sands contributed a record 446,500 barrels a day, thanks to the start-up of a new phase at the Firebag project. This helped offset a decline in conventional output following a large sale of Western Canadian gas properties. Although the higher production pushed revenue to $10.2-billion during the quarter from $9.5-billion a year earlier, Suncor's earnings still fell to $973-million from $988-million, as a lack of pipeline capacity forced the company to ship more of its crude by rail. Suncor is not worried. It is now sending a greater proportion of its crude to refineries on the U.S. Gulf Coast, which should increase selling prices in 2014. Its Montreal refinery should also see higher profit margins this year because it is refining cheaper oil from across the border. Buy.

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