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.

TSX:SU - Post by User

Suncor Energy Inc > Over-bought

<< Previous

Bullboard Posts

Next >>

Comment by MigraineCallon Aug 20, 2023 12:02am

211 Views

Post# 35596759

RE:RE:RE:RE:Over-bought

Daily shorts:

https://nakedshortreport.com/company/SU/

lifeisgood1010 wrote:
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