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Suncor Energy Inc. (SU.TO)

Toronto - Toronto Real Time Price. Currency in CAD
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22.41-0.23 (-1.02%)
At close: 4:00PM EST
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Previous Close22.64
Open22.36
Bid22.40 x 0
Ask22.41 x 0
Day's Range22.23 - 22.80
52 Week Range14.02 - 45.12
Volume12,358,048
Avg. Volume10,590,928
Market Cap34.179B
Beta (5Y Monthly)1.69
PE Ratio (TTM)N/A
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & Yield0.84 (3.75%)
Ex-Dividend DateDec. 02, 2020
1y Target EstN/A
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News
Press Releases
  • Suncor to assume operatorship of Syncrude by end of 2021
    GlobeNewswire

    Suncor to assume operatorship of Syncrude by end of 2021

    Unless otherwise noted, all financial figures are in Canadian dollars.CALGARY, Alberta, Nov. 23, 2020 (GLOBE NEWSWIRE) -- Suncor, as 58.74% owner of the Syncrude Joint Venture, announced today that it, together with the other Syncrude joint venture owners – Imperial Oil Resources Limited, CNOOC Oil Sands Canada and Sinopec Oil Sands Partnership – have agreed in principle for Suncor to become the operator of the Syncrude project by the end of 2021. The agreement still requires formal approval from each of the owners.“This presents a significant strategic opportunity for Syncrude and the joint venture owners,” said Mark Little, Suncor president and chief executive officer. “We believe this transition will help build on the progress made to date and unlock significant value. By capitalizing on the collective strength of our regional operations, synergies of $300 million annually are expected, making Syncrude even more regionally and globally competitive as we work together to achieve a Syncrude cash operating cost per barrel of C$30/bbl (US$23/bbl) and achieve 90% utilization. Initiatives like the Interconnect Pipelines have proven that by collaborating with a shared vision to improve operating performance and efficiencies, we can achieve more.” The bi-directional pipelines connecting Suncor’s Base Plant and Syncrude’s operations, which are now complete and being commissioned, will provide increased integration and operational flexibility between the two assets.Adding Syncrude operatorship to Suncor’s current operations – Fort Hills Limited Partnership, Suncor’s Oil Sands Base Plant and Suncor’s in situ assets – will mean a stronger regional operations model to drive greater competitiveness across all assets.“As neighbours for almost fifty years, Syncrude and Suncor have enjoyed a close relationship and a long, proud history in the region,” added Little. “Many families have members who work at both operations and both operations share a deep commitment to the community working closely with the Regional Municipality of Wood Buffalo and Indigenous communities and partners. We will be able to build on our collective strengths to become stronger together.”Suncor’s confidence in the Syncrude project and the opportunity to improve its operational performance is evidenced by Suncor’s strategy to increase its ownership in Syncrude. Since 2016, Suncor has grown its ownership from 12% to 58.74% through acquisitions.The Syncrude joint venture owners are Suncor (58.74%), Imperial Oil Resources Limited (25.0%), Sinopec Oil Sands Partnership (9.03%) and CNOOC Oil Sands Canada (7.23%).Legal Advisory – Forward-Looking Information This news release contains certain forward-looking information and forward-looking statements (collectively referred to herein as “forward-looking statements”) within the meaning of applicable Canadian and U.S. securities laws. Forward-looking statements in this news release include: the expectation that Suncor will become the operator of the Syncrude project by the end of 2021; Suncor’s belief that this transition will help build on the progress made to date and unlock significant value, synergies of $300 million annually, and capitalize on the collective strength of its regional operations which will make Syncrude even more regionally and globally competitive; the expectation that Suncor will work to achieve a Syncrude cash operating cost per barrel of C$30/bbl (US$23/bbl) and achieve 90% utilization; the belief that the bi-directional pipelines connecting Suncor’s Base Plant and Syncrude’s operations will provide increased integration and operational flexibility between the two assets; Suncor’s belief that adding Syncrude operatorship to its current operations will mean a stronger regional operations model to drive greater competitiveness across all assets; and similar statements. Forward-looking statements are based on Suncor’s current expectations, estimates, projections and assumptions that were made by the company in light of its information available at the time the statement was made and consider Suncor’s experience and its perception of historical trends, including expectations and assumptions concerning: the accuracy of reserves estimates; the current and potential adverse impacts of the COVID-19 pandemic, including the status of the pandemic and future waves and any associated policies around current business restrictions, shelter-in-place orders or gatherings of individuals; commodity prices and interest and foreign exchange rates; the performance of assets and equipment; capital efficiencies and cost savings; applicable laws and government policies; future production rates; the sufficiency of budgeted capital expenditures in carrying out planned activities; the availability and cost of labour, services and infrastructure; the satisfaction by third parties of their obligations to Suncor; the development and execution of projects; and the receipt, in a timely manner, of regulatory and third-party approvals. Some of the forward-looking statements may be identified by words like “will”, “expected”, “estimated”, “anticipate”, “believe” and similar expressions. Forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties, some that are similar to other oil and gas companies and some that are unique to Suncor. Suncor’s actual results may differ materially from those expressed or implied by its forward-looking statements, so readers are cautioned not to place undue reliance on them. Suncor’s Annual Information Form and Annual Report to Shareholders, each dated February 26, 2020, Form 40-F dated February 27, 2020, Management’s Discussion and Analysis for the third quarter of 2020 dated October 28, 2020 (the MD&A) and other documents Suncor files from time to time with securities regulatory authorities describe the risks, uncertainties, material assumptions and other factors that could influence actual results and such factors are incorporated herein by reference. Copies of these documents are available without charge from Suncor at 150 6th Avenue S.W., Calgary, Alberta T2P 3E3, by calling 1-800-558-9071, or by email request to invest@suncor.com or by referring to the company’s profile on SEDAR at sedar.com or EDGAR at sec.gov. Except as required by applicable securities laws, Suncor disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. NON-GAAP FINANCIAL MEASURESSyncrude cash operating costs is not prescribed by Canadian generally accepted accounting principles (“GAAP”). This non-GAAP financial measure is included because management uses the information to analyze business performance, including on a per barrel basis, as applicable, and it may be useful to investors on the same basis. This non-GAAP financial measure does not have any standardized meaning and, therefore, is unlikely to be comparable to similar measures presented by other companies. This non-GAAP financial measure should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. This non-GAAP financial measure is defined and reconciled in the Non-GAAP Financial Measures section of the MD&A. Suncor Energy is Canada’s leading integrated energy company. Suncor’s operations include oil sands development and upgrading, offshore oil and gas production, petroleum refining, and product marketing under the Petro-Canada brand. A member of Dow Jones Sustainability indexes, FTSE4Good and CDP, Suncor is working to responsibly develop petroleum resources while also growing a renewable energy portfolio. Suncor is listed on the UN Global Compact 100 stock index. Suncor's common shares (symbol: SU) are listed on the Toronto and New York stock exchanges.For more information about Suncor, visit our website at suncor.com and follow us on Twitter @SuncorMedia inquiries: 1-833-296-4570 media@suncor.com Investor inquiries: 800-558-9071 invest@suncor.com

  • Petro-Canada to support Caregivers in Canada through the Petro-Canada CareMakers Foundation™
    GlobeNewswire

    Petro-Canada to support Caregivers in Canada through the Petro-Canada CareMakers Foundation™

    Petro-Canada CareMakers Foundation™ Caring for those who care for othersAll financial figures are in Canadian dollars.  CALGARY, Alberta, Nov. 19, 2020 (GLOBE NEWSWIRE) -- Petro-Canada, a Suncor business, today announced the creation of the Petro-Canada CareMakers Foundation, which will support family caregivers across Canada. Through the CareMakers Foundation, Suncor plans to invest $10 million over the next five years to bring awareness and support to the essential work of caregivers, a group that according to Statistics Canada includes more than 8 million Canadians.The CareMakers Foundation will provide grants to charitable organizations in Canada that support family caregiving, to enhance and amplify their work. The first recipients of the CareMakers Foundation include: Baycrest Foundation, Circle of Care: Mount Sinai Hospital, BC Neighbourhood Houses, and Community Care City of Kawartha Lakes.At some point in their lives, more than half of Canadians provide unpaid care to a family member or friend with a long-term health condition, physical or mental disability, or age-related need. These caregivers play an integral role in supporting relatives, friends and neighbours, and they often go unrecognized and unsupported.“Caring for those who care for others is a natural fit for us. It is core to Suncor’s purpose, and through our Petro-Canada associates and marketers it’s also how we Live By The Leaf every day,” said Mark Little, Suncor president and chief executive officer. “Caregiving is personal for us. The work supported by the Petro-Canada CareMakers Foundation will positively impact our employees, our customers and Canadians from coast to coast to coast.”Caregivers provide roughly 75 per cent of all patient care in Canada. Among other things, family caregivers provide transportation, meal preparation and housekeeping. They schedule appointments, help with medications and provide emotional support. “Caregivers are the backbone of our communities, and the pandemic has in many ways exacerbated the issues that family caregivers face,” said Little. “We know this issue is largely unseen, and through our more than 1,850 retail and wholesale locations we have the unique ability to shine a light on caregiving at a time when caring is more essential than it has ever been.”For many, caring is more than a simple act of kindness; it’s an everyday commitment and an unspoken promise. Working with other organizations in the sector, the CareMakers Foundation will focus on providing tools and resources that can help support family caregivers in Canada.Quotes: “Caregivers are often forgotten about. We’re in home, we’re providing care.” – Kevin, Suncor employee and family caregiver“Caregivers are folks who give without keeping score, who ask for nothing in return.” – Maxim, Petro-Canada Associate, Montreal“Being a family caregiver is such an all-encompassing and overwhelming role, yet it is largely a silent and unseen one. We need to care for and support our family caregivers and acknowledge the sacrifice and devotion involved in caring for others. At one point or another, we will all either be a caregiver or need a caregiver, and it is our duty to care for one another” - Dr. Adriana Shnall PhD, MSW, RSW, Program Director, Baycrest@Home, Clinical Programs & Koschitzky Centre for Innovations in Family Caregiving“We believe that every family caregiver should feel cared for. The space of caregiving is complex and in need of support and transformation. By creating the Petro-Canada CareMakers Foundation, we will have an opportunity to tangibly benefit charitable organizations throughout Canada who are working actively to support family caregivers,” Leila Fenc, executive director, Petro-Canada CareMakers FoundationCaregiving Statistics*: Caregiving is an issue that affects all Canadians. Our society simply would not function without caregivers. * 8.1 million Canadians are carers (1 in 4). They provide roughly three quarters of all patient care. * 72% of caregivers provide emotional support. 68% provide transportation. 59% are also involved in activities around the home and 52% schedule appointments. * On average, caregivers devote 19 hours a week to caregiving duties. * 1 in 10 unpaid caregivers support loved ones for more than 30 hours a week. * 43% of caregivers reported missing work, 15% cut down their hours, and 10% passed up a promotion or new job.*Statistics provided by Statistics CanadaSuncor Energy is Canada's leading integrated energy company. Suncor's operations include oil sands development and upgrading, offshore oil and gas production, petroleum refining, and product marketing under the Petro-Canada brand. A member of Dow Jones Sustainability indexes, FTSE4Good and CDP, Suncor is working to responsibly develop petroleum resources while also growing a renewable energy portfolio. Suncor is listed on the UN Global Compact 100 stock index. Suncor's common shares (symbol: SU) are listed on the Toronto and New York stock exchanges.Petro-Canada, a Suncor business, operates more than 1,500 retail stations and 300 Petro-Pass wholesale locations nationwide, including 56 marketing arrangements with Indigenous communities. In 2019, Petro-Canada opened Canada’s Electric HighwayTM, a coast to coast network of electric vehicle chargers. Petro-Canada’s retail loyalty program, Petro-Points™, provides Canadians with the opportunity to earn and redeem rewards. Petro-Canada is proud to be a National Partner of the Canadian Olympic and Paralympic committees, supporting Canadian athletes, coaches and their families for more than 25 years. The Petro-Canada CareMakers FoundationTM will help to support Canadian caregivers.For more information about Suncor, visit our web site at suncor.com, follow us on Twitter @Suncor.For more information about Petro-Canada, visit our web site at petro-canada.ca, follow us on Facebook or PumpTalk. For more information about the Petro-Canada CareMakers Foundation, visit our web site at caremakers.caMedia inquiries: 833-296-4570 media@suncor.com A photo and a video accompanying this announcement are available athttps://www.globenewswire.com/NewsRoom/AttachmentNg/f3b3150f-8a33-449a-acf7-c6d66e42baa2https://www.globenewswire.com/NewsRoom/AttachmentNg/85000364-8e39-4d9b-816b-cd721a73c18f

  • Suncor Energy declares dividend
    GlobeNewswire

    Suncor Energy declares dividend

    All financial figures are in Canadian dollars. CALGARY, Alberta, Nov. 18, 2020 (GLOBE NEWSWIRE) -- Suncor Energy’s Board of Directors has approved a quarterly dividend of $0.21 per share on its common shares, payable December 24, 2020 to shareholders of record at the close of business on December 3, 2020.Suncor Energy is Canada's leading integrated energy company. Suncor's operations include oil sands development and upgrading, offshore oil and gas production, petroleum refining, and product marketing under the Petro-Canada brand. A member of Dow Jones Sustainability indexes, FTSE4Good and CDP, Suncor is working to responsibly develop petroleum resources while also growing a renewable energy portfolio. Suncor is listed on the UN Global Compact 100 stock index. Suncor's common shares (symbol: SU) are listed on the Toronto and New York stock exchanges.For more information about Suncor, visit our web site at suncor.com, follow us on Twitter @SuncorMedia inquiries: 1-833-296-4570 media@suncor.comInvestor inquiries: 800-558-9071 invest@suncor.com