Suncor Energy Inc. [NYSE: SU] stock went on a downward path that fall over -1.90% on Wednesday, amounting to a one-week price decrease of less than -7.53%. The company report on August 4, 2022 that Suncor Energy Reports Second Quarter 2022 Results.
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Unless otherwise noted, all financial figures are unaudited, presented in Canadian dollars (Cdn$), and have been prepared in accordance with International Financial Reporting Standards (IFRS), specifically International Accounting Standard (IAS) 34 Interim Financial Reporting as issued by the International Accounting Standards Board. Production volumes are presented on a working-interest basis, before royalties, except for production values from the company’s Libya operations, which are presented on an economic basis. Certain financial measures referred to in this news release (adjusted funds from operations, adjusted operating earnings, net debt and free funds flow) are not prescribed by Canadian generally accepted accounting principles (GAAP). See the Non-GAAP Financial Measures section of this news release. References to Oil Sands operations exclude Suncor Energy Inc.’s interest in Fort Hills and Syncrude.
Calgary, Alberta–(Newsfile Corp. – August 4, 2022) – “Driven by a strong business environment, Suncor (TSX: SU) (NYSE: SU) generated record adjusted funds from operations of approximately $5.3 billion, or $3.80 per common share, in the second quarter of 2022, as we executed planned maintenance across our asset base,” said Kris Smith, interim president and chief executive officer. “Our confidence in our business and expected annual cash flows enabled us to return approximately $3.2 billion of value to our shareholders, which includes both the highest dividend per share and highest rate of share repurchases in the company’s history.”.
Over the last 12 months, SU stock rose by 65.33%. The one-year Suncor Energy Inc. stock forecast points to a potential upside of 33.31. The average equity rating for SU stock is currently 2.30, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $40.66 billion, with 1.41 billion shares outstanding and 1.36 billion shares in the current float. Compared to the average trading volume of 6.98M shares, SU stock reached a trading volume of 4500883 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Suncor Energy Inc. [SU]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SU shares is $45.69 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SU stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Credit Suisse have made an estimate for Suncor Energy Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on August 11, 2022. The new note on the price target was released on July 11, 2022, representing the official price target for Suncor Energy Inc. stock.
The Average True Range (ATR) for Suncor Energy Inc. is set at 1.19, with the Price to Sales ratio for SU stock in the period of the last 12 months amounting to 1.05. The Price to Book ratio for the last quarter was 1.42, with the Price to Cash per share for the same quarter was set at 0.95. Price to Free Cash Flow for SU in the course of the last twelve months was 5.34 with Quick ratio for the last quarter at 0.70.
SU Stock Performance Analysis:
Suncor Energy Inc. [SU] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.53. With this latest performance, SU shares gained by 0.26% in over the last four-week period, additionally sinking by -5.34% over the last 6 months – not to mention a rise of 65.33% 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 39.30, with the RSI for the last a single of trading hit 34.21, and the three-weeks RSI is set at 41.91 for Suncor Energy Inc. [SU]. The present Moving Average for the last 50 days of trading for this stock 32.39, while it was recorded at 31.35 for the last single week of trading, and 31.60 for the last 200 days.
Insight into Suncor Energy Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Suncor Energy Inc. [SU] shares currently have an operating margin of +16.06 and a Gross Margin at +39.05. Suncor Energy Inc.’s Net Margin is presently recorded at +10.53.
Return on Equity for this stock inclined to 11.38, with Return on Assets sitting at 4.89.
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.
SU Stock EPS
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 24.00%.
Suncor Energy Inc. [SU] Insider Position Details
There are presently around $24,534 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 69,173,515, which is approximately -2.762% of the company’s market cap and around 0.02% of the total institutional ownership; VANGUARD GROUP INC, holding 49,473,712 shares of the stock with an approximate value of $1.51 billion in SU stocks shares; and DODGE & COX, currently with $1.27 billion in SU stock with ownership of nearly -1.328% of the company’s market capitalization.
Positions in Suncor Energy Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 269 institutional holders increased their position in Suncor Energy Inc. [NYSE:SU] by around 60,985,212 shares. Additionally, 260 investors decreased positions by around 57,570,521 shares, while 93 investors held positions by with 686,622,071 shares. The mentioned changes placed institutional holdings at 805,177,804 shares, according to the latest SEC report filing. SU stock had 92 new institutional investments in for a total of 14,417,979 shares, while 53 institutional investors sold positions of 14,517,314 shares during the same period.