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 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.

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Suncor Energy Inc > Short data and covering

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Comment by w8asecon Jan 04, 2022 7:52pm

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Post# 34283616

RE:RE:RE:RE:Short data and covering

Thanks for the input Experienced... and you are probably correct that the shorts have moved onto something more "short worthy" and not going Long SU.

I did the Opposite when they announced the Divy increase....actually started buying big before the last financials when I saw their huge NCIB being excecuted....and I was hoping for a small Divy increase,... been accumulating SU since OCT 2020 and it represents close to 50% of my holdings now. I am more of a value investor and did not experience your woes of the past.

I do think it is a different company now, or at least the strategy of return to shareholders is.(in the industry as a whole) -

I was a CEO of a Public Co in my past and I get the feeling this CEO and Board are PISSED royally with how the street has treated them.... hope I am right.... because if I am, they will keep their cards very close to their chest and won't let the Pro's know anything.

Time will tell.... Afterall, it is investing, which is crapshoot... been wrong and burned before.

However as a side note, and as a value investor I see SU properly valued at $42.00 now... making it a 4% Divy with this type of FCF and P/E... so my sell point isn't till it moves north of that to "my overvalued" thinking....barring any black swan, Shiit happens event.

Good luck to both of us, and again thanks for chimming in, as this is how we get better.

Experienced wrote:

w8asec wrote: Obscure1 - Thanks so much for clarifying that .... and yes I also see this as good news,,,, sure would be nice to see the pendulum swing well north of $40 soon.

If you look at a chart of SU going back to the 15th of Dec to the end of the month you will see the effect of the shorts covering.

That story is over for now. The shorts have moved on and until they see something that would entice them to start shorting again - this chapter has ended and they are not part of any buying pressure going forward.

The upcoming 4Q FFO numbers are already well known by the pros and is already priced in and have been known for some time so your dream of $40 a share is just that...a dream.

There are two ways for SU to get to $40..

1...an amazing stock market rally

2....something which would take the price of oil to 100 a barrel

If you think either of these two will happen then Godspeed to you...

Me??

I sold my stake a while back after they announced the doubling of the dividend and will quietly wait for a market correction to reload.. I like the company but have learned from years (and sometimes bitter) of experience not to fight the tape.