Suncor Energy, Inc. [NYSE: SU] stock went on an upward path that rose over 0.65% on Wednesday, amounting to a one-week price increase of more than 0.77%. The company report on February 21, 2024 at 5:30 PM that Suncor Energy Reports Fourth Quarter 2023 Results.
Unless otherwise noted, all financial figures are unaudited, presented in Canadian dollars (Cdn$), and derived from the company’s condensed consolidated financial statements which are based on Canadian generally accepted accounting principles (GAAP), specifically International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB), and are prepared in accordance with International Accounting Standard (IAS) 34 Interim Financial Reporting. 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, free funds flow and net debt) 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.
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Calgary, Alberta–(Newsfile Corp. – February 21, 2024) – Suncor Energy Inc. (TSX: SU) (NYSE: SU).
Over the last 12 months, SU stock dropped by -0.76%. The one-year Suncor Energy, Inc. stock forecast points to a potential upside of 11.76. 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 $43.84 billion, with 1.30 billion shares outstanding and 1.29 billion shares in the current float. Compared to the average trading volume of 4.46M shares, SU stock reached a trading volume of 3960280 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 $38.36 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 new note on the price target was released on September 18, 2023, 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 1.21. 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 1.01. Price to Free Cash Flow for SU in the course of the last twelve months was 9.32 with Quick ratio for the last quarter at 0.88.
SU Stock Performance Analysis:
Suncor Energy, Inc. [SU] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.77. With this latest performance, SU shares gained by 3.26% in over the last four-week period, additionally plugging by 1.93% over the last 6 months – not to mention a drop of -0.76% 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 60.80, with the RSI for the last a single of trading hit 64.30, and the three-weeks RSI is set at 58.06 for Suncor Energy, Inc. [SU]. The present Moving Average for the last 50 days of trading for this stock 32.49, while it was recorded at 33.75 for the last single week of trading, and 31.87 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 0.88 and a Current Ratio set at 1.44.
SU Stock EPS
With the latest financial reports released by the company, Suncor Energy, Inc. posted 1.02/share EPS, while the average EPS was predicted by analysts to be reported at 0.97/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 5.20%. 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 -5.93%.
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%.
