Post by
thegreattimario on Jun 23, 2022 1:00pm
Suncor sp beat down.
This stock price is being beat down like a read headed step kid. What's up with that oil still over $100 demand for fuel still strong. In this mini recession if it ever does materialize these companies maybe the only ones making good returns i am definitely adding. Soon to be out of debt divy will probably go up %50 over the next year. Imo oil will never dip below $70 even in a recession. Suncor is without a doubt a money making machine.
Comment by
autofocus111 on Jun 23, 2022 1:20pm
It's all just knee-jerk reactions by quant algos and leveraged traders to the steady stream of twisted logic emanating out of US poiticians' mouthes. Windfall profit tax, drop the gas tax, ban products exports, ban crude exports... KISS Investing 1. Oil price above $80? 2. Crack spread above 25? If yes to both, then hold no matter what the stock price is.
Comment by
Bigbear7405 on Jun 23, 2022 2:20pm
This is cause by margin calling. Wait till that is exhausted.
Comment by
Bigbear7405 on Jun 23, 2022 2:19pm
I feel they will focus on share buybacks. Most of their debt is around the 4.5 percent bonds levels. The spend 1.1 billion on dividends, 750 million on debt repayment and 1 billion on shares. At these prices they could by back 25 million shares a quarter, which reduces the money spent on dividends. Guess we will wait and see.