|Bid||22.15 x N/A|
|Ask||22.17 x N/A|
|Day's Range||22.00 - 25.34|
|52 Week Range||14.02 - 46.00|
|Beta (5Y Monthly)||1.50|
|PE Ratio (TTM)||11.91|
|Earnings Date||May 04, 2020|
|Forward Dividend & Yield||1.86 (8.38%)|
|Ex-Dividend Date||Mar. 02, 2020|
|1y Target Est||37.98|
Stocks like Enbridge and Suncor are incredibly cheap due to the current market correction. You should consider buying them.The post Got $6,000? Then Buy These 2 Brilliant Stocks While They Are Cheap appeared first on The Motley Fool Canada.
TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange:Toronto Stock Exchange (13,097.76, up 221.36 points.)Cenovus Energy Inc. (TSX:CVE). Energy. Up 63 cents, or 23.16 per cent, to $3.35 on 28.3 million shares.Canadian Natural Resources Ltd. (TSX:CNQ). Energy. Up $1.35, or 7.31 per cent, to $19.83 on 25.1 million shares.Suncor Energy Inc. (TSX:SU). Energy. Up $1.76, or 7.93 per cent, to $23.95 on 21.9 million shares.Crescent Point Energy Corp. (TSX:CPG). Energy. Up 22 cents, or 20.95 per cent to $1.27 on 17.8 million shares.Baytex Energy Corp. (TSX:BTE). Energy. Up seven cents, or 22.22 per cent, to 38.5 cents on 16.1 million shares.MEG Energy Corp. (TSX:MEG). Energy. Up 53 cents, or 33.76 per cent to $2.10 on 14.3 million shares.Companies in the news:Cenovus Energy Inc. — Budget cuts in the western Canadian oil and gas sector are hitting home for front-line workers who are facing smaller paycheques as well as an ever-increasing risk of being laid off. On Thursday, oilsands producer Cenovus Energy Inc. responded to low global oil prices with its second capital spending cut in less than a month, along with the suspension of its quarterly dividend and a five per cent reduction in production guidance for 2020.Canadian National Railway Co. (TSX:CNR). Up $2.26 to $108.71. Canadian National Railway Co. hit an all-time record for March grain movement. Chief operating officer Rob Reilly says the 2.62 million tonnes of grain is a 6.1 per cent increase from 2017, the previous record for March. The numbers come as the country's largest railroad operator works to clear a backlog built up after a month of blockades erected across the country in February in solidarity with the hereditary chiefs of the Wet'suwet'en First Nation in northwestern British Columbia.Agnico Eagle Mines Ltd. (TSX:AEM). Up $2.95 or five per cent to $62.11. Canadian mining companies with assets in Mexico moved to suspend operations in the country as the Mexican government ordered non-essential businesses to close in an effort to slow the spread of COVID-19. Agnico Eagle Mines Ltd. says its Pinos Altos, Creston Mascota and La India operations were ramping down and would be placed on care and maintenance until April 30. Equinox Gold says it will temporarily suspend mining at its Los Filos Mine in Mexico.This report by The Canadian Press was first published April 2, 2020.The Canadian Press
Investors can look to follow Warren Buffett and buy two Canadian stocks for their TFSA. The post TFSA Investors: It's Time to Buy Warren Buffett’s Favourite TSX Stocks! appeared first on The Motley Fool Canada.
As if a grinding market halt due to the coronavirus wasn’t enough, the sudden drop in oil prices became a one-two punch for companies like Suncor.The post Market Meltdown: Suncor (TSX:SU) Could Take 10 Years to Recover appeared first on The Motley Fool Canada.
The stock price of Suncor Energy fell more than 50% in recent weeks. Should contrarian investors buy now?The post Contrarian Investors: Is Suncor Energy (TSX:SU) Stock a Top Market Crash Buy Today? appeared first on The Motley Fool Canada.
(Bloomberg) -- The last major oil-sands mine to start operating in northern Alberta could be Canada’s first big casualty of the Saudi-Russian price war and the Covid-19 pandemic.Teck Resources Ltd., one of the partners in the Fort Hills project that formally opened in September 2018, is considering a full shutdown of the mine to cut costs after local prices hit record lows. Suncor Energy Inc., another partner in the venture, announced last week one of the mine’s two production lines would be closed to preserve cash.“The partners continue to further analyze capital- and operating-cost reduction opportunities, and, as you might imagine, we’re certainly looking at the potential shutdown of the operation,” Teck Chief Executive Officer Don Lindsay said during an investor presentation. “However, more work needs to be done and we will update you as work progresses.”Storage tanks worldwide are brimming with crude as the global pandemic destroys demand, while Saudi Arabia and Russia flood the market in a fight for market share. The dual shock is pushing some producers to the brink, with shale titan Whiting Petroleum Corp. filing for bankruptcy on Wednesday. Meanwhile, refineries in North America are cutting fuel production, with some shutting down altogether.Fort Hills can produce 194,000 barrels of oil a day, more than OPEC member Equatorial Guinea. Total SA is also one of the owners.“At this time, we have made no decision to move to a full shutdown,” a representative for Suncor said. “The partners haven’t discussed a full shut down,” which would require unanimous consent of the shareholders, she said.Canadian oil producers have already announced about 100,000 barrels a day of production cuts in response to the price crash, Goldman Sachs Group Inc. analyst Emily Chieng said in a note. Further cuts will be necessary to respond to the reduction in demand, otherwise commercial inventory levels could be breached within two to three weeks, she said.Oil-sands shutdowns could reach half a million barrels a day, with the bulk of operational shut-ins starting in May, Matt Murphy, a director of research at Tudor Pickering Holt & Co., said by phone.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Suncor (TSX:SU)(NYSE:SU) stock surged by 18.40% on Tuesday and is up by 36% since Friday. Is this a dead-cat bounce, or is the rally sustainable?The post Suncor’s (TSX:SU) Stock Price Jumped by 18%: Here’s Why appeared first on The Motley Fool Canada.
While the government is busy finding ways to churn the economy, big energy firms are adjusting plans to contribute to recovery. The Suncor stock is well positioned to endure a long disruption until the market gets back on track.The post Damage Control: 3 Ways to Rebuild After a Vicious 2020 Market Crash appeared first on The Motley Fool Canada.
Why Canadian oil stocks like Suncor Energy Inc. (TSX:SU)(NYSE:SU) are more investible than they seem at US$20 WTI prices.The post Canadian Oil Stocks: The Opportunity of a Lifetime? appeared first on The Motley Fool Canada.
Oil prices are still reeling, but I’m bullish on energy stocks like Suncor Energy Inc. (TSX:SU)(NYSE:SU) and Enbridge Inc. (TSX:ENB)(NYSE:ENB) right now.The post 2 Heavyweight Energy Stocks to Buy Cheap appeared first on The Motley Fool Canada.
The energy sector could continue to trade weak. But some of the biggest energy stocks look ripe for a sharp recovery.The post No, You Should Not Totally Shun TSX Energy Stocks Right Now! appeared first on The Motley Fool Canada.
Here's why investors can look to add energy stocks such as Suncor and Enbridge to their TFSAs.The post TFSA Investors: 2 TSX Energy Giants Are Screaming Buys! appeared first on The Motley Fool Canada.
Suncor Energy (TSX:SU)(NYSE:SU) stock has fallen to unprecedented depths amid the Saudi-Russia oil price war, making the name one of the most promising deep value plays on the TSX.The post Should You Buy Suncor Energy (TSX:SU) for a Massive Correction to the Upside? appeared first on The Motley Fool Canada.
Don't be tempted by these three companies that are cheap but dangerous: Western Forest Products (TSX:WEF), Air Canada (TSX:AC) and Suncor Energy Inc. (TSX:SU)(NYSE:SU).The post Warning: These 3 Companies Are Cheap but Dangerous appeared first on The Motley Fool Canada.
Due to the current market environment, I sold one of my long-term TSX energy stocks in order to take advantage of this major opportunity in another.The post Market Crash: 1 TSX Energy Stock I Bought and 1 I Sold appeared first on The Motley Fool Canada.
Can Suncor stock survive the recent market crash, a 1-2 punch onslaught as Warren Buffet calls it? Let’s try to figure out.The post Warren Buffett Hasn't Witnessed a 1-2 Punch Like This in 89 Years appeared first on The Motley Fool Canada.
With uncertainty reigning supreme at the moment, it is best to stick with the best in class out of any sector. Suncor Energy Inc. (TSX:SU)(NYSE:SU) is the top energy name in Canada, but should you buy this company today?The post Market Crash: Should You Buy This Oil Giant? appeared first on The Motley Fool Canada.
(Bloomberg) -- Only the old hands at the Coffeyville oil refinery could remember anything like the prices posted this month. The small Kansas plant in the heart of rural America was offering just $1.75 a barrel for Wyoming sweet crude.With more than two billion people on virus lockdown from India to California, energy demand has plunged. In corners of the U.S., Canada, Russia and China, oil prices at the well-head are collapsing under the weight of an unprecedented glut.And with it, the industry is bracing for something that last happened on this scale 35 years ago: producers shutting down their wells as pumping crude makes no economic sense.“I have never seen anything like this in the markets,” said Torbjorn Tornqvist, the co-founder of Gunvor Group Ltd., a large commodity trading house. “We’ve never seen anything even close to today.”The oil market -- hit by the double blow of a demand slump and a supply surge as Saudi Arabia and Russia wage a price war -- is battling a surplus of as much as 20% of global consumption.The consequences are brutal: prices are now low enough to force a widespread suspension of production, or a shut-in as it’s known in the industry. For those waging the price war, it counts as a victory -- as long as the shut-ins happen elsewhere.Brent and West Texas Intermediate, the benchmarks closely followed in Wall Street, are hovering around $25 a barrel. But in the world of physical oil -- where actual barrels change hands -- producers are getting much less.The industry is navigating what Paul Sankey, a veteran oil analyst at Mizuho Bank Ltd, described as “uncharted waters to unknown lands.”Wyoming Sweet, a landlocked crude with few outlets other than American refineries like Coffeyville, is paradigmatic of how the dynamics of the oil market are forcing output cuts. There are others: North Dakota Light Sweet has traded at $9.97 a barrel. Across the border, Western Canadian Select has plunged to $6.45. In Siberia, Russian crude has changed hands for less than $10 and Chinese domestic prices have fallen to single digits.Ultra-low oil prices are starting to work: Petrobras, the Brazilian state-run producer, is cutting output by 100,000 barrels a day from high-cost offshore platforms. Glencore Plc., the commodity giant, is shutting down its oilfields in Chad. In Canada, Suncor Energy Inc. has partially shutdown its Fort Hills oil sands mine.As the pain spreads, industry executives believe many other companies will stem production in the next few days.“We need to cut crude supply by 10 million barrels a day pretty quickly,” said Russel Hardy, the head of top independent oil trader Vitol Group. “Oil prices will need to go lower, to bring the prices to a level that triggers a response.”The last time the oil industry faced widespread shut-ins was in 1986, when Saudi Arabia also ravaged the market in a price war. During the price battles of 1998-99 and 2015-16 the industry also saw cuts, but not on a large scale.Put simply, the world cannot continue pumping at the current level of about 100 million barrels a day while demand is as much as 20% lower. The surplus would overwhelm storage capacity within weeks.In some emerging markets, where infrastructure is less developed, it’s already happening. Pakistan has told refiners to stop importing gasoline and diesel as the tanks are already brimming.Rush to SeaWhere there’s access to the sea, traders use tankers to store oil -- and wait for prices to go up. Crude is now moving onto ships at a record pace, according to one of the industry’s largest shipowners.But inland, producers are reliant on sending crude to local refineries like Coffeyville and the lack of storage capacity will be decisive.“The surge in inventory in coming weeks will inevitably saturate local infrastructure, in our view, forcing many inland producers to shut-in wells,” said Damien Courvalin, oil analyst at Goldman Sachs Group Inc.Some producers will prefer to take the hit of negative prices -- paying someone to take the oil off their hands -- to the long-term costs of shutting down a well. In the aftermath of the last major downturn, a North Dakota sour crude went to a negative 50 cents.But as storage fills up, production will have to respond. IHS Markit Ltd., a consultant, estimates the Canadian province of Alberta has inland tanks able to store the equivalent of just 3.2 days of daily production. The central U.S., which includes Wyoming, has room for just 12.8 days’ output.“Production is going to have to be reduced or even shut in,” said Jim Burkhard, head of oil markets at IHS Markit. “It is now a matter of where and by how much.”(Adds detail on tankers)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Don’t buy Suncor Energy (TSX:SU)(NYSE:SU) for its juicy dividend. Instead, consider the company for its long-term potential.The post Market Crash 2020: Huge Buy Signal in 1 Top Stock appeared first on The Motley Fool Canada.
(Bloomberg) -- Record low prices for heavy Canadian crude have prompted one of the biggest operators in the oil sands to take the rare step of shutting production.Motivated by the “extremely low” prices, Suncor Energy Inc. announced on Tuesday that it will shut in one of its two so-called trains at its two-year-old, 194,000 barrel-a-day Fort Hills oil sands mine. The company also is delaying the start up of its MacKay River oil sands wells to May, after operations were halted in December because of a malfunction and fire. Suncor joins Athabasca Oil Corp., which said last Friday it would curtail production from its Hangingstone oil sands site by about 50% to maximize corporate funds flow and liquidity.The move comes as the coronavirus pandemic slashes worldwide oil demand just as Saudi Arabia ramps up oil production in a price war with Russia, sending global oil benchmarks to the lowest prices in almost two decades. Western Canadian Select, the oil-sands benchmark, fell to a record low of $8.90 a barrel on Tuesday, data compiled by Bloomberg show. The value of the bitumen itself, excluding the light condensate that’s added so the heavy crude can be pumped through pipelines, was valued at just $4.40 a barrel.Oil sands wells and mines are built for billions of dollars to last for decades. They are rarely shut because many of their operating costs are fixed and, for the wells, leaving the reservoirs cold for an extended period of time could cause damage. Suncor and its partners Total SA and Teck Resources Ltd. agreed to operate the single processing stream at Fort Hills at full utilization to increase cash flow amid the low prices for bitumen.The guidance for Suncor’s share of Fort Hills bitumen production in 2020 was reduced to between 55,000 to 65,000 barrels a day from between 85,000 to 95,000 barrels a day, the company said in its release.The use of one train at the mine “will increase cash flow, particularly when bitumen prices are extremely low, as we are able to significantly reduce variable costs,” the company said. “Unit costs for the remaining production will be higher because of this decision as a result of fixed costs being covered by lower volumes.”(Adds Athabasca in second paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The energy sector is reeling from the coronavirus and oil price war. Still, investors can’t write off the Suncor Energy stock as a losing investment. The company remains formidable to endure the current crisis.The post COVID-19 Fallout: Is Suncor (TSX:SU) Stock Buried Deep in the Oil Sands? appeared first on The Motley Fool Canada.
(Bloomberg) -- Canadian stocks soared the most in at least 43 years, joining a global rally on hopes government stimulus will soon flow to economies hammered by the coronavirus.The S&P/TSX Composite Index rose 12% on Tuesday, the biggest one-day percentage jump since at least 1977 when the index’s predecessor began. South of the border, stocks boomed with the Dow Jones Industrial average posting its best day since 1933 as a U.S. stimulus bill of about $2 trillion inches forward.Investors had been searching for buying opportunities amid the brutal sell-off but volatility has made it difficult to call a bottom on the stocks. The Canadian market is still down about 30% from its February peak.“We had cash going into this period, and I have been investing it as the market has been going down,” said Whitney George, chief investment officer of Sprott Asset Management. “I have been reinvesting the proceeds incrementally as the market keeps dropping.” Gold’s spot price was up about 5% and silver more than 6% on Tuesday, giving a boost to mining stocks. The spending package by the U.S. government caused Goldman Sachs to predict an “inflection point” for gold and the bank is recommending its clients buy now.Canada’s economic heartland is shutting down to fight the virus outbreak. Ontario and Quebec, which together account for about 57% of the country’s economy, have ordered non-essential businesses to close by the end of today. Nearly one million Canadians applied for jobless claims last week, representing almost 5% of the labor force, according to a senior government official with knowledge of the data.Debate on Prime Minister Justin Trudeau’s C$82 billion ($57 billion) stimulus package is stalled as parties negotiate the terms in a minority parliament.Within the energy patch, record low prices for heavy Canadian crude have prompted one of the biggest operators in the oil sands to take the rare step of shutting production. Motivated by the “extremely low” prices, Suncor Energy Inc. announced on Tuesday that it will shut in one of its two so-called trains at its two-year-old, 194,000 barrel a day Fort Hills oil sands mine.Bombardier Inc. said it will suspend all non-essential work at most Canadian-based operations tonight until April 26 to comply with government mandates to help slow the spread of Covid-19.Sprott’s George is keeping a positive outlook for the market despite all the volatility. “Looking ahead, I am confident that markets and the economy will bounce back as they have had in the past,” he said.CommoditiesWestern Canada Select crude oil traded at a $15.00 discount to West Texas IntermediateSpot gold rose about 4.7% to $1,626.15 an ounceFX/BondsThe Canadian dollar was little changed at C$1.4487 per U.S. dollarThe 10-year government bond yield rose about 8 basis points to 0.873%(Updates with closing prices.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.