Suncor Energy Inc. (SU) Clearly Signals Buy-Into the Stock: Don’t ignore the signals

Suncor Energy Inc. (NYSE: SU) stock fell -2.66% on Friday to $30.35 against a previous-day closing price of $31.18. With 4.16 million shares changed hands, the volume of the stock remained lighter than its average volume of 6.35 million shares. During the session, the Oil & Gas Integrated company that operates in wider Energy sector, reached to the highest price of $31.70 whereas the lowest price it dropped to was $30.34. The 52-week range on SU shows that it touched its highest point at $42.72 and its lowest point at $18.65 during that stretch. It currently has a 1-year price target of $42.38. With its current market cap of 42.20 billion, SU has annualized dividend of $1.43 while the current yield stands at 4.71%. Beta for the stock currently stands at 1.26.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of SU was down-trending over the past week, with a drop of -5.72%, but this was down by -7.61% over a month. Three-month performance dropped to -13.83% while six-month performance fell -6.41%. The stock gained 60.24% in the past year, while it has gained 21.25% so far this year. A look at the trailing 12-month EPS for SU yields 4.97 with Next year EPS estimates of 7.89. For the next quarter, that number is 2.50. This implies an EPS growth rate of 197.70% for this year and -17.76% for next year. EPS is expected to grow by 24.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 59.40%.


Float and Shares Shorts:

At present, 1.41 billion SU shares are outstanding with a float of 1.36 billion shares on hand for trading. On Jul 14, 2022, short shares totaled 14.05 million, which was 1.02% higher than short shares on Jun 14, 2022. In addition to Mr. Kristopher P. Smith as the firm’s CEO & Interim Pres, Mr. Alister Cowan serves as its Chief Financial Officer.

Institutional Ownership:

Through their ownership of 62.26% of SU’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 40.42% of SU, in contrast to 20.23% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in SU with 3.12% of the stake, RBC Global Asset Management, Inc. holds 44,083,541 shares worth 44,083,541. A second-largest stockholder of SU, 1832 Asset Management LP, holds 43,383,619 shares, controlling over 3.07% of the firm’s shares. Dodge & Cox is the third largest shareholder in SU, holding 41,594,454 shares or 2.94% stake. With a 1.93% stake in SU, the Dodge & Cox International Stock F is the largest stakeholder. A total of 27,318,954 shares are owned by the mutual fund manager. The Vanguard Total International Stoc, which owns about 1.34% of SU stock, is the second-largest Mutual Fund holder. It holds 18,897,372 shares valued at 610.76 million. Manulife Balanced Income Private holds 1.25% of the stake in SU, owning 17,744,000 shares worth 573.49 million.


Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SU since 19 analysts follow the stock currently. There are 11 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 7 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With SU analysts setting a high price target of $49.63 and a low target of $35.38, the average target price over the next 12 months is $42.86. Based on these targets, SU could surge 63.53% to reach the target high and rise by 16.57% to reach the target low. Reaching the average price target will result in a growth of 41.22% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. SU will report FY 2022 earnings on 02/08/2023. Analysts have provided yearly estimates in a range of $8.41 being high and $6.44 being low. For SU, this leads to a yearly average estimate of $7.33. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Suncor Energy Inc. surprised analysts by $0.17 when it reported $2.20 EPS against a consensus estimate of $2.03. The surprise factor in the prior quarter was $0.18. Based on analyst estimates, the high estimate for the next quarter is $2.02 and the low estimate is $1.56. The average estimate for the next quarter is thus $1.77.

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