Post by
zenith9 on Dec 16, 2020 5:18pm
Suncor as a long term hold
What are peoples' thoughts on Suncor getting back to the 45 CAD level? Looking at the long term chart it seems like a no-brainer. I mean looking back at the depths of the 2008 crash we're pretty much in the same place now....and looked how SU bounced back.
Seems like a buy and forget stock. We could look back in 5yrs and say...gosh what an opportunity.
Thoughts welcome. Thanks all.
Good luck.
Comment by
thegreattimario on Dec 16, 2020 5:43pm
I personally don't think suncor will ever test 40 a share again. I do think $30 to 37 is more realistic. The latter possibly happening the end of 2021.
Comment by
zenith9 on Dec 16, 2020 5:46pm
Any reasoning or just a gut feeling?
Comment by
Owlseye1 on Dec 16, 2020 5:50pm
Book is 27.00 x 1.5= 40.5
Comment by
Chris007 on Dec 16, 2020 6:15pm
Actually, book value is $23.83 as of Q3 2020 Shareholders equity of $36,344,000,000 divided by shares outstanding of 1,525,000,000
Comment by
TMAZZ21 on Dec 18, 2020 10:01pm
Someone please explain to me why SU is going down when oil is almost pushing $50
Comment by
Lacas24 on Dec 19, 2020 8:07am
I rarely comment on braindead rants like this but you deserve an award. As an astute investor of energy like you I am pretty sure you can explain to me the ratio of commercial, Industrial use of oil. I will give you a hint. Negligible. Once you have a solution for maritime, heavy industry, aviation and consumer products then you get something. Until then crawl back to your whole you troll.
Comment by
Owlseye1 on Dec 16, 2020 6:18pm
Plus usually trades little higher because of refineries holdings which are not working for them through covid because of drop in demand. This will change quick when covid is behind us n demand ramps back up. Seen this in other commodities n the would came back n reach new highs along with inflation.
Comment by
Owlseye1 on Dec 16, 2020 5:45pm
D'ont think it's 5 yrs away thinking 6 to 18 month at the most. Seen lots of the midcaps double in the last few weeks SU will do the same n better. Good luck.
Comment by
Mtklip on Dec 18, 2020 11:02am
No doubt it will happen, a new oil cycle is on the horizon. The dividend cut gives them an opportunity to buy back shares, pay down debt, make the balance sheet look more attractive.