Suncor Stock

May 7th, 2020 11:59 am

#1

radiko [OP]: Sr. Member; Nov 23, 2010; 687 posts; 124 upvotes; Montreal

May 7th, 2020 11:59 am

Is it a good idea to buy Suncor now? The specialize in Oil Sand and Oil Sand is Dead. Can Suncor survive any longer?

Do Not put All your Eggs in One Basket!
Overtaxed, Underpaid, Overpriced Proud Canadian!

May 7th, 2020 12:11 pm

#2

winterplight: Newbie; Jul 2, 2014; 81 posts; 133 upvotes; Ottawa, ON

May 7th, 2020 12:11 pm

Dead suggests it wont come back to life, it can come back to life if oil prices go back up again. Historically this is bound to happen. It is up to you to believe if the fundamentals have changed and this will no longer happen.

+2

May 7th, 2020 3:52 pm

#3

radiko [OP]: Sr. Member; Nov 23, 2010; 687 posts; 124 upvotes; Montreal

May 7th, 2020 3:52 pm

They own Petro Canada. I guess they will have to switch to another form of Energy to survive.

Do Not put All your Eggs in One Basket!
Overtaxed, Underpaid, Overpriced Proud Canadian!

May 7th, 2020 4:26 pm

#4

Dpack22: Deal Addict; Mar 16, 2010; 3326 posts; 1885 upvotes

May 7th, 2020 4:26 pm

Depends if you believe in the green party or you believe in reality.

+2

May 7th, 2020 4:31 pm

#5

llpresident: Deal Addict; Dec 3, 2014; 2348 posts; 1840 upvotes; Ontario

May 7th, 2020 4:31 pm

Dpack22 wrote: ↑ Depends if you believe in the green party or you believe in reality.

I am an adamant conservative supporter; however that does not make me bullish on the oil sector. The sector is in decline and not a good stock investment other than a short-term trade on oversold names if you think you can predict a price-bottom and recovery timeline, which I do not think I can, so I do not invest in this sector beyond Enbridge.

+4

Jul 6th, 2020 5:21 pm

#6

andalou: Jr. Member; Mar 12, 2015; 103 posts; 25 upvotes; North York, ON

Jul 6th, 2020 5:21 pm

i’m holding suncor, down 8%. is anyone else holding? thinking of selling and buying enbridge instead at this price but not sure

+2

Jul 6th, 2020 5:29 pm

#7

badmus: Deal Fanatic; Jul 12, 2008; 5945 posts; 1926 upvotes; GTA

Jul 6th, 2020 5:29 pm

I am holding quite a bit even after the dividend cut, it’s like 10% of my portfolio.

WCS and WTI climbing higher everyday and things will normalize soon, my ACB is a bit above $20 looking to double that in the next year.

Jul 6th, 2020 6:27 pm

#8

Khichdi: Member; Aug 1, 2014; 342 posts; 354 upvotes

Jul 6th, 2020 6:27 pm

You pretty much answered your own question. No one can predict the future but unless Suncor diversifies into renewable options it will find difficult to grow in the future.

Jul 7th, 2020 2:38 am

#9

kuchunwah: Member; Dec 7, 2007; 405 posts; 348 upvotes; Edmonton

Jul 7th, 2020 2:38 am

Just wondering, did anyone receive the dividends from Jun 25? I am with TD and have yet to it?

Jul 7th, 2020 10:21 am

#10

madara: Deal Addict; Sep 29, 2007; 2258 posts; 295 upvotes; Mississauga

Jul 7th, 2020 10:21 am

I got mine posted to my Questrade account on 6/25.

Jul 7th, 2020 3:56 pm

#11

AcidBomber: Moderator; May 27, 2007; 16075 posts; 4560 upvotes; Toronto

Jul 7th, 2020 3:56 pm

I have Suncor and holding... seeing reds suck though.

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Sep 27th, 2020 12:34 pm

#12

agit: Sr. Member; Jan 23, 2009; 933 posts; 1798 upvotes; Ontario

Sep 27th, 2020 12:34 pm

Suncor Is Basically A Steal At Today's Price according to many

Warren Buffet owns about 1.3% stake in Suncor, in fact Suncor is one of the two Canadian stock he owns

Saudi wealth fund builds stakes in Canadian Natural, Suncor - about 2.00% stake in Suncor

Suncor stock trades at 0.8 times book value

Analyst Ratings Hold 1 - buy 13 PT $36.00

info here
https://seekingalpha.com/article/437625 ... days-price
https://www.bnnbloomberg.ca/saudi-wealt ... -1.1437236
https://www.fool.ca/2020/08/25/suncor-e ... tsx-giant/

any input?

+1

Sep 27th, 2020 2:43 pm

#13

WetCoastGuy: Deal Addict; Dec 24, 2007; 1760 posts; 2293 upvotes; BC

Sep 27th, 2020 2:43 pm

If you're a Value Investor that have the patience to wait out the current oil difficulties it's a low risk investment with lots of potential. SU, however, is still in a downtrend and may hit the March lows again. Like Fools says "The oil patch remains a tricky investment".

+2

Sep 27th, 2020 10:54 pm

#14

Brewmaster7: Member; Aug 15, 2016; 213 posts; 378 upvotes

Sep 27th, 2020 10:54 pm

SU along with all large oil and gas companies are getting crushed in an anti fossil fuel sentiment trade right now. If you have confidence that the demand for oil will return over time, then there is reason to believe that higher oil prices will also happen and that these companies offer strong value. Key things to look for will be increased passenger air travel and gasoline consumption, both which drive the demand for crude oil. I think SU is a good buy today if you are willing to wait 1 - 3 years for a recovery.

+1

Sep 28th, 2020 1:21 am

#15

BardoonD52881: Member; Jul 22, 2018; 223 posts; 177 upvotes

Sep 28th, 2020 1:21 am

There are lots of stocks out there if you don't like one or have doubts you don't have to get pigeonholed into it. If you like it get it no need to get other peoples approval.

While its good to imagine it going back to levels as previous. You have to think it will go down further and you have to still have the belief in that company that it will recover. Otherwise don't get it, true with any stock.

+1

Sep 28th, 2020 11:55 am

#16

badmus: Deal Fanatic; Jul 12, 2008; 5945 posts; 1926 upvotes; GTA

Sep 28th, 2020 11:55 am

Suncor is a buy at these levels with a good yield even after its dividend was cut, don’t expect it to outperform though.

+2

Sep 28th, 2020 12:53 pm

#17

CDNGreenTrader: Deal Addict; Sep 27, 2020; 1101 posts; 3187 upvotes

Sep 28th, 2020 12:53 pm

If you're in it for the long-haul and won't panic if the stock drops 5-6% in a single day, Suncor is a fine investment.

I suspect it will rebound but it may take a long time.

However, there are way less risky stocks that will similarily rebound in the long-term.

It's a personal choice and there are many out there who don't have the appetite to hold oil stocks.

+1

Sep 28th, 2020 2:18 pm

#18

treva84: Deal Fanatic; Nov 9, 2013; 5608 posts; 6923 upvotes; Edmonton, AB

Sep 28th, 2020 2:18 pm

Brewmaster7 wrote: ↑ SU along with all large oil and gas companies are getting crushed in an anti fossil fuel sentiment trade right now. If you have confidence that the demand for oil will return over time...

What about supply? What if other nations / corporations have cheaper means to supply oil than via oil sands production?

Buy quality. Keep calm and go long

Sep 28th, 2020 2:25 pm

#19

BatmoBeal: Member; Jul 20, 2019; 239 posts; 132 upvotes

Sep 28th, 2020 2:25 pm

Future is electric..

+1

Sep 28th, 2020 2:31 pm

#20

BatmoBeal: Member; Jul 20, 2019; 239 posts; 132 upvotes

Sep 28th, 2020 2:31 pm

treva84 wrote: ↑ What about supply? What if other nations / corporations have cheaper means to supply oil than via oil sands production?

Cheap is no good because they are selling below their cost