It is a trending stock that is worth watching. The market gave back some gains in the first two weeks of September but has moved higher in recent days. First and foremost, Suncor’s fortunes remain tied to the price of oil. Suncor stock in 2020. Returns since inception, October 2013. Revealed: A Ridiculously Cheap Warren Buffett Stock That Could Skyrocket in 2020. Would you be better off buying Suncor or other dividend stocks? Ongoing volatility should be expected in the next few months, but contrarian investors might want to start buying Suncor stock at this level. Last year, Warren Buffett purchased a 10.8-million-share stake in the company at much higher prices. Despite WTI’s move back above US$40, investors are … Show full articles without "Continue Reading" button for {0} hours. appeared first on The Motley Fool Canada. 3 Beaten-Down Stocks Look Attractive, Aphria (TSX:APHA) Stock Plunges: Marijuana Industry in Trouble. I understand I can unsubscribe from these updates at any time. Earlier in the week, I’d indicated that there was little reason to buy Suncor stock before earnings. More ». I wouldn’t back up the truck today, but contrarian investors might want to start nibbling on Suncor stock at this level. Suncor has also been hit by surging industry supply. Air Canada reduced capacity by 92% in the second quarter and saw passenger levels fall 96% compared to the same period last year. There is a strong likelihood it will bounce back again. Likewise, Suncor reiterated previously reduced guidance for full-year production of 760,000 boe/d. Suncor Energy (TSX:SU) appears oversold right now, but a number of challenges face the oil industry. It turns out that this was a bit of a fluke, as these prices actually reflected the valuation of a specific futures contract for a single month. 61% OFF: Buy Suncor Stock Right Now at Just $16.50 Apiece. Air traffic has plummeted, while vehicle transportation has also fallen off a cliff. While the overall market is rallying, some blue-chip companies are declining. The big drops over the second quarter were to be expected. The biggest story is the collapse in crude oil prices. With that in mind, there should be plenty of opportunity for investors to either start or top up existing positions over the next few months. Earnings reports or recent company news can cause the stock price to drop. You’ve likely limited your travel severely since the year began in response to the coronavirus pandemic. In the end, the market regulated itself and oil prices rebounded above US$40 in early June on the hopes of new demand driven by the reopening of economies. The net loss per share is a far cry from earnings of $1.74 per share posted in the second quarter of 2019. Investors with a contrarian investing style want to know of Suncor stock is now oversold. Should You Buy Aphria (TSX:APHA) After Its Recent Pullback? Is this the right time to buy Suncor stock? Because he thinks this fast-growing company looks a lot like Shopify, a stock Iain officially recommended 3 years ago – before it skyrocketed by 1,211%! Simply click the link below to grab your free copy and discover all 5 of these stocks now. Why is Suncor Energy Inc stock dropping? “The company’s results in the second quarter of 2020 were significantly impacted by the COVID-19 pandemic, which has lowered demand for both crude oil and refined products and, combined with the OPEC+ increase in supply, resulted in a significant decline in commodity prices, compared to the prior year quarter.” — Company press release. Connect with friends faster than ever with the new Facebook app. Dazu gehört der Widerspruch gegen die Verarbeitung Ihrer Daten durch Partner für deren berechtigte Interessen. 5 Stocks Under $49 (FREE REPORT). Suncor makes most of its money by selling oil, so this was a terrible result for the company’s bottom line. That doesn’t mean Suncor stock isn’t a buy, but before you jump in, make sure you understand the details. Andrew Walker | September 17, 2020 | More on: SU. High breakeven prices aren’t a problem when oil prices are commensurately high. 3 Beaten-Down Stocks Look Attractive, Aphria (TSX:APHA) Stock Plunges: Marijuana Industry in Trouble. Falling demand plus rising supply can only mean one thing for Suncor: lower selling prices. Fool contributor Andrew Walker has no position in any stock mentioned. Markets tend to be forward-looking, and this might explain why Suncor trades so cheaply today. In its latest report, the IEA highlights slowing demand recovery in the oil market due to ongoing weak fuel demand. Despite what was a decent quarter, it did little to change my neutral outlook on Suncor. appeared first on The Motley Fool Canada. Suncor (TSX:SU)(NYSE:SU) delivered better-than-expected earnings. © 2020 The Motley Fool Canada, ULC. If conditions normalize, oil prices could quickly surpass US$50 per barrel. Just take a look at its historical trading range. On the bright side, the company exited the second quarter in a strong financial position with $9 billion in liquidity. Ryan Vanzo | May 8, 2020 | More on: SU SU. Please read the Privacy Statement and Terms of Service for more information. Once the project gets completed, Suncor should benefit. At the start of 2020, oil prices were around US$60 per barrel. Suncor (TSX:SU) or Air Canada (TSX:AC): Where to Invest $500, 2 Bargain-Basement Dividend Stocks to Buy Right Now, Stock Market Crash 2.0: The Pandemic and Blue-Chip Companies. He did a similar thing in the 2009 crisis by investing... More », Suncor and Air Canada stock offer big discounts, should you risk investing $500 in one of these beaten-down names? Let’s take a look. The post Suncor (TSX:SU) Stock Drops on Disappointing Results appeared first on The Motley Fool Canada. Fool contributor Andrew Walker has no position in any stock mentioned. Is the company a buy now that oil prices are beginning to recover? COVID-19 vaccines could be widely available by the middle of next year. Iain and his team just published a detailed report on this tiny TSX stock. But lower demand is only half of the story. Suncor’s share price has been on a roller-coaster ride in 2020. The good news is that the price has been consolidating above this level for the past month. This is a reasonable investment thesis. Why Is Suncor Stock Down 25% in the Past Month? Suncor is a resilient stock. Many investors are buying Suncor stock as a bet that oil prices will rebound post-pandemic. TSX Stocks: 2 Stars With Reliable 5% Yields, Love High Dividend Yields? Why Suncor Energy, Continental Resources, and Occidental Petroleum Stocks Crashed Almost 10% Today Suncor Energy (SU) Q2 2020 Earnings Call Transcript Teck and Suncor … Daten über Ihr Gerät und Ihre Internetverbindung, darunter Ihre IP-Adresse, Such- und Browsingaktivität bei Ihrer Nutzung der Websites und Apps von Verizon Media. But shares have fallen dramatically for good reason. Why it could make sense to tap your RRSP for COVID relief . Forget Suncor: These Are the Energy Stocks of the Future Daniel Da Costa | October 16, 2020. We’ve seen this happen before. Don't miss out! Fool contributor Ryan Vanzo has no position in any stocks mentioned. Apart from dividends, shareholders have made a 0% return in 15 years. You get paid a nice 4.7% dividend yield and have a shot at attractive gains as the market recovers. Likewise, revenue fell by 45.26% from $7.756 billion last year. How did the company perform? $10,000 Invested in Suncor (TSX:SU) at the Start of 2020 Is Worth This Much Today msn.com - October 8 at 2:28 PM Suncor announces 100 layoffs, jobs cut at Husky Energy, too Since then, however, Suncor’s share price has trended lower, despite relative strength in the oil market. Negative prices didn’t reflect the actual long-term price of oil, but that’s not much of a consolation, as negatively priced futures were only made possible by a collapse in demand and a surge in supply. Once countries began to reopen their economies in May, demand started to recover, led by China. The share price of Suncor Energy (TSX:SU) (NYSE:SU) dropped 25% in the past four weeks. This led to Suncor reducing forward cash commitments by $4.5 billion in 2020. Click Here to Get Your Free Report Today! Suncor Energy Inc stock ended on $11.51 on Wednesday after losing 3.52% (Updated on October 21, 2020) Sell candidate since 2020-10-20 Loss -3.52% PDF Last Trading Session. Suncor stock began the year at $42 per share. This occurred due to fears that global storage capacity might not be capable of holding the ongoing supply. The shares hit a closing low near $15 in March, so the stock isn’t too far off that mark. Microsoft may earn an Affiliate Commission if you purchase something through recommended links in this article. As governments around the world implemented lockdowns and travel restrictions, oil prices tanked on falling demand. Big investors, including Warren Buffett, apparently have a similar opinion. You can adopt a contrarian approach and profit from... More », When we talk about the pandemic maybe five years from now, TSX stocks will be at new peaks, and the current environment will be... More », While investors are walking away from oil companies, Warren Buffett is buying in. This is good news and can be a sign of optimism from management. We’ve seen this hap The global economy could rebound stronger than expected in 2021 and oil prices should drift higher. Suncor Energy (TSX:SU)(NYSE:SU) is one of Canada’s largest companies. But in today’s environment, Suncor is likely racking up multi-million-dollar losses on a daily basis. Record cuts to investment in the industry could eventually lead to tight supplies and drive prices significantly higher. The company is not only a producer, but it also owns four large refineries and has roughly 1,500 Petro-Canada retail locations. Canadian Stock Market: Brace for a More Volatile October. Warren Buffett’s Berkshire Hathaway increased its holding of Suncor stock in the second quarter. After the bell on Wednesday, the company reported financial results for the second quarter ending June 30, 2020: All things considered,  it was a disappointing quarter from Suncor. Its massive oil sands projects likely need oil to surpass US$40 per barrel to turn a cash profit. More », Suncor Energy (TSX:SU) appears oversold right now, but a number of challenges face the oil industry. This comes as markets anticipate slower demand growth due to the ongoing pandemic. Suncor stock bounced from $15 in March to as high as $28 on the optimism. You’ve likely heard about oil prices turning negative in recent weeks. If oil prices don’t rise considerably, Suncor stock may barely budge. As Suncor previously announced when it cut the dividend in May, the company’s funds from operations (FFO) breakeven price is US$35/per barrel. Not to alarm you, but you’re about to miss an important event. This should drive a recovery in the airline industry. Markets tend to be forward-looking, and this might explain why Suncor trades so cheaply today. Despite the earning issue, the company can bounce back if oil prices and the overall market recover. Massive cuts to capital programs across the energy industry could lead to tight market conditions when oil demand recovers. Suncor has also been hit by surging industry supply. Damit Verizon Media und unsere Partner Ihre personenbezogenen Daten verarbeiten können, wählen Sie bitte 'Ich stimme zu.' In that scenario, a rally in Suncor stock back above $35 by the end of next year wouldn’t be a surprise. West Texas Intermediate (WTI) oil started 2020 above US$60 per barrel. Current as of October 26, 2020. Für nähere Informationen zur Nutzung Ihrer Daten lesen Sie bitte unsere Datenschutzerklärung und Cookie-Richtlinie. Monday, October 26, 2020 at 4:24:26 p.m. Eastern Daylight Time, TSX Stocks: 2 Stars With Reliable 5% Yields, Love High Dividend Yields? Is Suncor stock oversold? We’ve Got You Covered with These 3 Free Stock Picks. By the end of March, WTI was down to US$20. All of this hammered fuel demand, which in turn reduced the need for crude oil to produce jet fuel, gasoline, and diesel fuel.

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