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Suncor Energy Inc. T.SU

Alternate Symbol(s):  SU

Suncor Energy Inc. is a Canada-based integrated energy company. The Company's segments include Oil Sands, Exploration and Production (E&P), and Refining and Marketing. Its operations include oil sands development, production and upgrading, offshore oil and gas production, petroleum refining in Canada and the United States and its Petro-Canada retail and wholesale distribution networks, including Canada’s Electric Highway, a coast-to-coast network of fast-charging electric vehicles (EV) stations. Petro-Canada has a network of over 1,800 retail and wholesale locations across Canada, providing customers with a wide variety of fuel and service offerings including low-carbon fuel options. It is developing petroleum resources while advancing the transition to a low-emissions future through investment in power and renewable fuels. It also wholly owns the Fort Hills Project, which is located in Alberta's Athabasca region, approximately 90 kilometers north of Fort McMurray.


TSX:SU - Post by User

Comment by Bigbear7405on Apr 25, 2022 11:30am
187 Views
Post# 34629048

RE:Share Repurchases for Suncor

RE:Share Repurchases for SuncorThe are getting close to being under the 1.4 billion mark, which is a solid accomplishment.
mariorizzi wrote: Looking at SEDI.CA you can see the share repurchases by Suncor this year

January    -  5.7 million shares repurchased
February  -  5.4  million shares repurchased
March      - 10.5 million shares repurchased
April         -  Number will be released next week

So, in Q1 the company has repurcahsed about 21.7 million shares, representing about 1.5% of the outstanding, for a total investment of over $600 million CAD.

Notice that as the price of oil increased in March, the company actually doubled their daily purchases. I expect that April will show a further 10 million shares repurchased.

These are massive numbers and the company is using the huge free cash flow provided by high oil prices to return money to shareholders at a high rate. This is also shows that the company believes their shares to be undevalued (I agree) and that the market is not fully understanding the significance of a massive North American based oil producer in these times of global uncertainty and war. 

In my opinion, shares can actually double from here on any catalyst. And more importantly, downside risk seems to be very minimal.

Good luck.



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