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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 production; petroleum refining in Canada and the United States; and the Company’s Petro-Canada retail and wholesale distribution networks (including Canada’s Electric Highway, a coast-to-coast network of fast-charging electric vehicle (EV) stations). The Company is developing petroleum resources while advancing the transition to a lower-emissions future through investments in lower-emissions intensity power, renewable feedstock fuels and projects targeting emissions intensity. The Company also conducts energy trading activities focused primarily on the marketing and trading of crude oil, natural gas, byproducts, refined products and power. It also wholly owns the Fort Hills Project, which is located in Alberta's Athabasca region.


TSX:SU - Post by User

Comment by ManitobaCanuckon Jun 27, 2021 12:20pm
202 Views
Post# 33457555

RE:RE:RE:RE:RE:RE:Bought 750 more

RE:RE:RE:RE:RE:RE:Bought 750 more

Thx for deflating my balloon of optimism with some reality check . Guess I will be happy for this to reach 50$ atleast .My acquisition price is low ,so possibly I could hold for a bit n enjoy the dividend in the meantime .
Guess have you factored the stock buybacks in the equation?
Lol ,but again markets tend to surprise us .Remember Athabasca Oil ,when we had a conversation at 18 cents n sitting at a dollar now .
 


Chris007 wrote: 5X EV/CF seems to be the typical multiple for the large caps over the long term...I guess investors are willing to award CNQ that multiple due to it proving to be THE all-weather/any market condition Canadian o&g stock to own.

I mean, in 2020, when most companies had to cut their dividend, take on more debt, and cut capex/production...CNQ was growing production, keeping their dividend, making acquisitions and paying down debt...which is pretty crazy when you think about it

That being said, never say never i guess.

However, on the other hand, as NPCexe pointed out:

1) its going to be difficult for oil prices to stay above $100 for any sustained period of time....obviously the current competitive environment for oil is much different than the late 90s-early 2010s where the key narrative was that of peak supply (AKA the world is running out of oil). Obviously the shale revolution radically changed the situation,since it turns out thats theres a hell of a lot more oil in the ground than anyone ever imagined, albeit, that it is more expensive to extract than conventional

The EIA expects a gradual ramp-up in US production back up of production to an average of 11.8M bpd in 2022...obviously $100 crude would speed up that process, and likely lessen producers hesitancyy about increasing production

2) OPEC+ is still sitting on the sidelines with 8 million bpd of spare capacity (https://www.spglobal.com/platts/en/market-insights/latest-news/oil/061521-top-oil-forecasters-warn-oil-prices-could-hit-100b-this-year)

Fact of the matter is, there are no PHYSICAL constraints on supply...the reason that prices are as strong as they have been is almost exclusively due to the fact that supply is being suppressed as a financial decision, due to the covid pandemic.
 

ManitobaCanuck wrote: Thx buddy .
Don't you think these stocks might get re rated or CNQ might have a better EV/fcf when oil is at 100$




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