RE:RE:SU leaving itself open to a takeoverWell, to be fair, the immediate “pre pandemic” prices of most of the oil companies are not exactly a high water mark, with most being down around somewhere in the ballpark of 60-80% of their pre-2014 oil crash highs.
For example some among the midcaps like Baytex, MEG, CPG, ERF (which have done well percentage wise over the last year):
-BTE (pre-2014 oil crash high of around 50 bucks…currently trading at 2.13)
Baytex may be up around 250% over the last year, but from its immediate pre-2014 oil crash high, its still down 90+%
-MEG (pre-2014 oil crash high of around $40…currently trading at 7.96)
Over the last year, its up around 125%, but from its immediate pre-2014 oil crash high, its still down around 80%
-CPG (pre-2014 oil crash high of around $47…currently trading at $4.56)
Over the last year its up around 120%, but from its immediate pre-2014 oil crash high, its still down around 90%
-ERF (pre-2014 oil crash high of around $27…currently trading at $7.77)
Over the last year its up around 135%, but from its immediate pre-2014 oil crash high, its still down around 71%
Suncor’s immediate pre-2014 oil crash high was around $44…its currently trading at $24.56
Over the last year, its up around 17%, but from its immediate pre-2014 oil crash high, its still down around 44%
From the 2014 oil crash until the covid pandemic, while Suncor wasn't exactly a steller performer, with its stock price basically treading water, bouncing between mid 30s-mid 40s. Its performance was still better than the vast majority of Canadian oil and gas.
For the most part, even with Suncor’s crappy performance as of late, it has retained its value better than most oil and gas names in Canada. That being said, I think we can all acknowledge that o&g has been a terrible sector to invest over the long term. If you decide to own any energy stocks, you should approach it as a trade, rather than an investment.
liljohnnyjoke wrote: many of the other oil companies are down 20% yes, but 52wk or even multi year highs
Suncor is down over 20% from $30, where it needed 40% more to get to prepandemic levels, many of the others that have fallen are still at pre pandemic levels