Suncor Energy, Inc. [SU] is -1.44% lower this YTD. Is it still time to buy?

Suncor Energy, Inc. [NYSE: SU] stock went on a downward path that fall over -2.44% on Tuesday, amounting to a one-week price decrease of less than -1.25%. The company report on January 3, 2024 at 6:45 AM that Suncor Energy Achieves 2023 Upstream Production Corporate Guidance.

(All figures are approximate).

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Calgary, Alberta–(Newsfile Corp. – January 3, 2024) – Suncor (TSX: SU) (NYSE: SU) today provided an operational update for the fourth quarter of 2023, highlighting upstream production of 808,000 barrels per day (bbls/d), the second highest quarter in the Company’s history. The strong fourth quarter performance results in an annual average upstream production of 746,000 bbls/d, in line with Suncor’s corporate guidance provided in November 2022.

Over the last 12 months, SU stock dropped by -7.85%. The one-year Suncor Energy, Inc. stock forecast points to a potential upside of 17.42. The average equity rating for SU stock is currently 2.10, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $40.90 billion, with 1.34 billion shares outstanding and 1.29 billion shares in the current float. Compared to the average trading volume of 4.45M shares, SU stock reached a trading volume of 6609478 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 $38.24 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 2.10. 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.

TD Securities have made an estimate for Suncor Energy, Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on September 28, 2023.

The Average True Range (ATR) for Suncor Energy, Inc. is set at 0.67, with the Price to Sales ratio for SU stock in the period of the last 12 months amounting to 1.10. The Price to Book ratio for the last quarter was 1.33, with the Price to Cash per share for the same quarter was set at 1.39. Price to Free Cash Flow for SU in the course of the last twelve months was 9.10 with Quick ratio for the last quarter at 0.82.

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 -1.25. With this latest performance, SU shares dropped by -3.66% in over the last four-week period, additionally plugging by 0.16% over the last 6 months – not to mention a drop of -7.85% 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 42.81, with the RSI for the last a single of trading hit 38.40, and the three-weeks RSI is set at 45.10 for Suncor Energy, Inc. [SU]. The present Moving Average for the last 50 days of trading for this stock 32.04, while it was recorded at 32.09 for the last single week of trading, and 31.68 for the last 200 days.

Insight into Suncor Energy, Inc. Fundamentals:

Suncor Energy, Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.82 and a Current Ratio set at 1.24.

SU Stock EPS

With the latest financial reports released by the company, Suncor Energy, Inc. posted 1.35/share EPS, while the average EPS was predicted by analysts to be reported at 1.32/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 2.30%. 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 -8.00%.

Suncor Energy, Inc. [SU] Institutonal Ownership Details

The top three institutional holders of SU stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in SU stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in SU stock with ownership which is approximately 5.8325%.