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Bullboard - Stock Discussion Forum Suncor Energy Inc T.SU

Alternate Symbol(s):  SU

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... see more

TSX:SU - Post Discussion

Suncor Energy Inc > Appetite for Energy Stocks
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Post by matt2018 on Jul 30, 2023 7:36am

Appetite for Energy Stocks

Investors seem to be flocking back into energy names after many reporting their Q2 numbers.
Price of oil moving up recently has certainly helped (good timing).
Here's what's interesting, MEG for example, had lowest production numbers in awhile (high planned maintenance),  but investors like what they see for the future and stock hit a 52 week high.
CVE & IMO also marched higher with not exactly blow out production numbers either.
What was noticeable in these Q2 reports was that even with the lower production numbers (planned or unplanned) and low price of oil for the Qtr, they made money, hundreds of millions.
I believe the thinking is going fwd, with maintenance behind most, oil demand increasing, potential for even higher Oil price 2nd half, the profit potential is massive. 
Perhaps even more than we seen in the last oil price run up as most energy companies were alot more leveraged then and took profits during that period and plowed them to their debts.
The balance sheets for many energy co. have never looked better.
Strange in way to suggest this (considering EV advancemennts & gov't future mandates), but it could be setting up for a very good time to be invested in Oil stocks (if oil price holds $80).
One thing market isn't liking right now is adding to debt for acquisitions even if you get them at a great price.
You will end up in penalty box till you can show decent FCF from those assets.
Look at BTE for example, investors starting to come around to the Ranger Oil acquisition after punishing them mercilessly.
Comment by matt2018 on Jul 30, 2023 8:06am
To add to this..... same can't be said for all resource plays. With price of Gold trading near historical all time highs ($1900 to $2000 oz), many Gold stocks are not performing that well. You would think Gold was trading at $1200 to $1400 judging by many of their stock prices. Investors are in a "show me the money" today, frame of mind. Oil stocks are more set up to give you that ...more  
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