Suncor Energy Inc. [NYSE: SU] jumped around 0.45 points on Tuesday, while shares priced at $32.89 at the close of the session, up 1.39%. The company report on January 16, 2023 that Suncor Energy Amends Agreement with Elliott Investment Management.
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Calgary, Alberta–(Newsfile Corp. – January 16, 2023) – Suncor Energy (TSX: SU) (NYSE: SU) today announced that the agreement dated July 16, 2022 with Elliott Investment Management L.P. (together with its affiliates “Elliott”), has, in the interest of continued cooperation, been amended by the agreement of the parties to extend the right for Elliott to appoint an additional director to the board of Suncor from January 31, 2023 to March 17, 2023.
Suncor is Canada’s leading integrated energy company. Suncor’s operations include oil sands development, production and upgrading, offshore oil and gas production, petroleum refining in Canada and the United States and the company’s Petro-Canada retail and wholesale distribution networks, including Canada’s Electric Highway, a coast-to-coast network of fast-charging EV stations. Suncor is developing petroleum resources while advancing the transition to a low-emissions future through investment in power, renewable fuels and hydrogen. Suncor also conducts energy trading activities focused principally on the marketing and trading of crude oil, natural gas, byproducts, refined products and power. Suncor has been recognized for its performance and transparent reporting on the Dow Jones Sustainability index, FTSE4Good and CDP. Suncor’s common shares (symbol: SU) are listed on the Toronto and New York stock exchanges.
Suncor Energy Inc. stock is now 3.66% up from its year-to-date (YTD) trading value. SU Stock saw the intraday high of $32.98 and lowest of $32.49 per share. The company’s 52-week high price is 42.72, which means current price is +11.25% above from all time high which was touched on 01/17/23.
Compared to the average trading volume of 5.20M shares, SU reached a trading volume of 6760419 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about 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 $39.74 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 2.40. 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.
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 January 10, 2023. While these analysts kept the previous recommendation, Jefferies raised their target price to Hold. The new note on the price target was released on October 19, 2022, representing the official price target for Suncor Energy Inc. stock.
The Average True Range (ATR) for Suncor Energy Inc. is set at 0.96, with the Price to Sales ratio for SU stock in the period of the last 12 months amounting to 1.06. The Price to Book ratio for the last quarter was 1.57, with the Price to Cash per share for the same quarter was set at 2.61. Price to Free Cash Flow for SU in the course of the last twelve months was 5.55 with Quick ratio for the last quarter at 0.90.
How has SU stock performed recently?
Suncor Energy Inc. [SU] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.31. With this latest performance, SU shares gained by 5.72% in over the last four-week period, additionally plugging by 7.41% over the last 6 months – not to mention a rise of 18.01% 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 58.97, with the RSI for the last a single of trading hit 65.89, and the three-weeks RSI is set at 55.09 for Suncor Energy Inc. [SU]. The present Moving Average for the last 50 days of trading for this stock 32.70, while it was recorded at 32.01 for the last single week of trading, and 33.48 for the last 200 days.
Suncor Energy Inc. [SU]: Deeper insight into the 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 0.90 and a Current Ratio set at 1.30.
Earnings analysis for Suncor Energy Inc. [SU]
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 32.49%.
Insider trade positions for Suncor Energy Inc. [SU]
There are presently around $25,730 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 68,623,555, which is approximately -0.795% of the company’s market cap and around 0.02% of the total institutional ownership; VANGUARD GROUP INC, holding 48,724,412 shares of the stock with an approximate value of $1.6 billion in SU stocks shares; and DODGE & COX, currently with $1.39 billion in SU stock with ownership of nearly 1.388% of the company’s market capitalization.
Positions in Suncor Energy Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 249 institutional holders increased their position in Suncor Energy Inc. [NYSE:SU] by around 54,316,797 shares. Additionally, 269 investors decreased positions by around 72,063,808 shares, while 101 investors held positions by with 655,915,887 shares. The mentioned changes placed institutional holdings at 782,296,492 shares, according to the latest SEC report filing. SU stock had 59 new institutional investments in for a total of 4,777,422 shares, while 64 institutional investors sold positions of 8,772,292 shares during the same period.