Seasonal Selloff to shake weak handsIf you check the charts every year at least at some point Suncor takes a dump. Given all the known information at the time last year it was just as illogical as now that Suncor sold off to something like $22 CAD from over $30.
My hope and plan is that Suncor makes such a pile of money that it overwhelms the negativity of ESG and powers the shares higher just based on multiples. This has a very good chance of happening with dividend increases and share buybacks.
My personal belief is oil will stay pegged above $100 USD. (On average). Right now there is a refinery shortage. Don't kid yourself the future is bright for Suncor at least moneywise.
In the meantime I will collect my dividend cheques which are over 4% if you buy at the moment. My share costs are lower so my divvy is higher! It’s not a bad consolation.