Suncor Energy Inc. [NYSE: SU] closed the trading session at $23.27 on 07/09/21. The day’s price range saw the stock hit a low of $23.06, while the highest price level was $23.46. The company report on June 17, 2021 that Suncor Energy and Terra Nova co-owners reach Agreement in Principle on Terra Nova.
Suncor advised that the co-owners of the Terra Nova Floating, Production, Storage and Offloading (FPSO) facility and associated Terra Nova Field (“Terra Nova” or “the project”) have reached an agreement in principle to restructure the project ownership and provide short-term funding towards continuing the development of the Asset Life Extension Project, with the intent to move to a sanction decision in the Fall. A subset of owners will increase their ownership of the project for consideration payable from the other owners. Suncor’s ownership will increase to 48% from approximately 38%.
The agreement is subject to finalized terms and approval from all Parties, including board of director approval where appropriate, and is contingent upon the previously disclosed royalty and financial support from the Government of Newfoundland & Labrador. Further details will be provided when agreements are finalized.
The stocks have a year to date performance of 38.68 percent and weekly performance of -4.59 percent. The stock has been moved at 24.04 percent over the last six months. The stock has performed -7.03 percent around the most recent 30 days and changed 11.50 percent over the most recent 3-months.
If compared to the average trading volume of 6.21M shares, SU reached to a volume of 4751821 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Suncor Energy Inc. [SU]:
Wells Fargo have made an estimate for Suncor Energy Inc. shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on December 15, 2020. The new note on the price target was released on October 26, 2020, representing the official price target for Suncor Energy Inc. stock.
The Average True Range (ATR) for Suncor Energy Inc. is set at 0.70, with the Price to Sales ratio for SU stock in the period of the last 12 months amounting to 1.68. The Price to Book ratio for the last quarter was 1.22, with the Price to Cash per share for the same quarter was set at 0.94.
SU stock trade performance evaluation
Suncor Energy Inc. [SU] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.59. With this latest performance, SU shares dropped by -7.03% in over the last four-week period, additionally plugging by 24.04% over the last 6 months – not to mention a rise of 47.93% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SU stock in for the last two-week period is set at 43.08, with the RSI for the last a single of trading hit 38.90, and the three-weeks RSI is set at 46.50 for Suncor Energy Inc. [SU]. The present Moving Average for the last 50 days of trading for this stock 23.81, while it was recorded at 23.43 for the last single week of trading, and 18.99 for the last 200 days.
Suncor Energy Inc. [SU]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Suncor Energy Inc. [SU] shares currently have an operating margin of -14.55 and a Gross Margin at +17.43. Suncor Energy Inc.’s Net Margin is presently recorded at -17.51.
Return on Total Capital for SU is now -6.07, given the latest momentum, and Return on Invested Capital for the company is -7.81. Return on Equity for this stock declined to -11.10, with Return on Assets sitting at -4.96. When it comes to the capital structure of this company, Suncor Energy Inc. [SU] has a Total Debt to Total Equity ratio set at 61.90. Additionally, SU Total Debt to Total Capital is recorded at 38.23, with Total Debt to Total Assets ending up at 26.16. Long-Term Debt to Equity for the company is recorded at 47.22, with the Long-Term Debt to Total Capital now at 29.16.
Reflecting on the efficiency of the workforce at the company, Suncor Energy Inc. [SU] managed to generate an average of -$343,023 per employee. Receivables Turnover for the company is 6.11 with a Total Asset Turnover recorded at a value of 0.28.Suncor Energy Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 1.10.
Earnings per share (EPS) analysis for Suncor Energy Inc. [SU] stock
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SU. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Suncor Energy Inc. go to 12.59%.
Suncor Energy Inc. [SU]: Insider Ownership positions
There are presently around $21,235 million, or 68.50% of SU stock, in the hands of institutional investors. The top three institutional holders of SU stocks are: ROYAL BANK OF CANADA with ownership of 76,421,475, which is approximately 10.547% of the company’s market cap and around 0.01% of the total institutional ownership; DODGE & COX, holding 59,934,554 shares of the stock with an approximate value of $1.39 billion in SU stocks shares; and FIL LTD, currently with $1.29 billion in SU stock with ownership of nearly -30.557% of the company’s market capitalization.
Positions in Suncor Energy Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 245 institutional holders increased their position in Suncor Energy Inc. [NYSE:SU] by around 137,215,328 shares. Additionally, 185 investors decreased positions by around 155,166,718 shares, while 82 investors held positions by with 620,148,931 shares. The mentioned changes placed institutional holdings at 912,530,977 shares, according to the latest SEC report filing. SU stock had 75 new institutional investments in for a total of 24,735,861 shares, while 54 institutional investors sold positions of 69,150,571 shares during the same period.