Suncor News Best Canadian Stocks to Buy and Hold
13. Suncor Energy Inc. (NYSE:SU)
Number of Hedge Fund Holders: 20
Canadian energy company Suncor Energy Inc. (NYSE:SU) shares have gained about 8% year to date through October 26. Suncor Energy Inc. (NYSE:SU) is in the news after the company said it would buy TotalEnergies' (NYSE:TTE) Canadian operations for about C$1.47 billion.
Suncor Energy Inc. (NYSE:SU)’s CEO Rich Kruger has been explaining his comments he made during the company’s Q2 earnings call to Canadian lawmakers. The comments were about climate change goals. Here’s what he’d said that invited the ire of the Canadian government:
“The lack of emphasis on today’s business drivers, and while important, we have a bit of a disproportionate emphasis on the longer term energy transition. Today, we win by creating value through our large integrated asset base underpinned by oil sands. Discussions have occurred with our Board of Directors, who are supportive of our revised direction in tone. And I would just leave this with more to come but you can expect a sharper, clearer, more tangible articulation of how Suncor plans to win. In addition to the above, we encountered…[Read the complete earning call transcript here.]”
Artisan International Value Fund made the following comment about Suncor Energy Inc. (NYSE:SU) in its Q4 2022 investor