Suncor Energy Inc. T.SU

Alternate Symbol(s): SU

Energy Oil & Gas Integrated

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.

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Suncor Energy Inc. > Over-bought

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Comment by lifeisgood1010on Aug 18, 2023 3:16pm

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Post# 35595402

RE:RE:RE:Over-bought

I always find it so funny to see small investors(posters)blame the shorts.

When a stock goes down:It's the shorts
When a stock goes up: It's the shorts covering

This data(short) is only available on a monthly basis for most investors.

I will never have the tools to say if there is short pressure or not but what i do know
is that Suncor results were very good and for those who have shorted the stock
in the last 2 months are in the hole.Even those who pare trade.

Lets compare a pair trade between what is considered(rightly)one of the best E&P in Canada
CNQ vs SU

Apair trade done May 16th

CNQ was $74.35 today $83.30 + 12%
SU was $37.96 today $44.92 + 18%

So SU is winning in this very,very short term period.

And yes, i know,CNQ is probably the best Canadian company of the 2

but right now, the valuation gap was such that SUis being revaluated.

No, it won't go up every day but yes, it will continue to appreciate unless
we see a huge downfall in oil price and crack spreads.

Nice weekend to all