Suncor Energy Inc T.SU

share buybacks

[winafew]

It looks like Suncor is continuing their share buy back.  Since Apr 21 they've bought back about 10 million shares. At least that what I think they are doing... the sales don't show up as NCIB, they show up like this?

May 28/21Suncor Energy Inc.Direct OwnershipSale under company plan Common Shares0.00-358,100-100.0%0
May 28/21Suncor Energy Inc.Direct OwnershipBuy under company planCommon SharesUSD 23.12358,100> 100%358,100

I'm a big fan of the buybacks, the shares seems undervalued at this level, so they are a great investment for the company.

Also been a little insider buying :  )

Jun 1/21Little, Mark StephenDirect OwnershipPublic market buyCommon Shares28.9817,25029.1%76,505
Jun 1/21Smith, Kristopher PeterDirect OwnershipPublic market buyCommon Shares29.028,90041.2%30,482

[liljohnnyjoke]

complete waste of money that could be used to increase dividends CNQ moving towards $50/sh. IMO $45/sh, SU fighting to hold $30 with $70 oil, still @ 40% below pre pandemic levels, everyone else at multi year highs

[thegreattimario]

I agree share buybacks and not divy restoration has been bad for the shareholders. If we restored the divy we would probably becat 40 a share. This company is criminal. I guess thats why buffet bailed.

[Bigbear7405]

Its not a complete waste if money. they more shares they buyback the less money they will pay when they do reinstate the dividend. . They have 1.5 billion shares out there. They should have no more than a billion. Feel free to sell out and go somewhere else.

[thegreattimario]

Your shares not being worth 10 bucks more a share plus a higher divy for those shares is a waste. Ya okay makes sense.lol

[thegreattimario]

Every company that held or partially reinstaed their divy is almost at or past pre pandemic prices so don't kid yourself su screwed us shareholders.

[Bigbear7405]

No reason to believe reinstating the dividend will make it shoot to 40. i bought in at 16 and 22 so i am a happy shareholder. It will get.to 40.

[PabloLafortune]

Suncor doesn't seem to care much for the average joe investor (or employee for that matter).