10:14:00 EDT Fri 19 Apr 2024
Enter Symbol
or Name
USA
CA



Suncor Energy Inc
Symbol SU
Shares Issued 1,445,764,765
Close 2015-09-02 C$ 35.00
Market Cap C$ 50,601,766,775
Recent Sedar Documents

Successful Inv says buy Suncor Energy

2015-09-02 22:04 ET - In the News

The Successful Investor, in the September, 2015, issue, says buy Suncor Energy Inc., recently $37. The Investor said buy 10 times from October, 2009, to February, 2015, at prices ranging from $30 to $43. A $1,000 investment for each of the 10 buys is now worth $10,360. Suncor produced 559,000 barrels a day (99 per cent oil) in the second quarter of 2015, up from 518,400 barrels a day a year earlier. The previous year's results suffered from unplanned outages at the company's oil sands projects. As well, this year's results benefited from the start-up of the company's 26.69-per-cent-owned Golden Eagle oil platform in the North Sea. Despite the higher production, Suncor's revenue fell to $8.1-billion from $10.6-billion and earnings per share (excluding unusual items) fell to 63 cents from 77 cents, mainly because of lower oil prices. Suncor has responded by trimming $400-million from its 2015 budget, which is now $5.8-billion to $6.4-billion. The Investor points out that many producers have had to slash costs and delay projects amid the oil price slump, but Suncor is in a better position than most because of its refineries. Cheap crude lowers the refineries' input costs and improves their profit margins. Suncor is a buy.

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