Suncor Reports Wider-Than-Expected Q2 Loss, Maintains View.
If you do not, click Cancel. Total upstream production in the reported quarter was 655,500 barrels of oil equivalent per day (Boe/d), down 18.5% from the prior-year level of 803,900 Boe/d.
This fall in output was due to a drop in the Oil Sands production.
The same was partially offset by higher output at Hebron. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms and Conditions of Service. Operating earnings from the downstream unit plunged to C$49 million from the year-ago figure of C$677 million due to FIFO losses associated with the significant slump in commodity prices. Each of the company logos represented herein are trademarks of Verizon Media; Microsoft Corporation; Nasdaq, Inc.; Dow Jones & Company; Forbes Media, LLC; Investor's Business Daily, Inc.; and Morningstar, Inc. A month has gone by since the last earnings report for Suncor Energy (SU - Free Report) . Operating costs per barrel dipped to C$25.8 in the quarter under review from C$27.8 in the corresponding period of 2019. statistically matched to analyst-rated companies, allowing our models to calculate a quantitative moat, However, the year-ago bottom line was a profit of 60 cents per share. See its 7 best stocks FREE. For detail information about the Quantiative Fair Value Estimate, please visit here, A reckoning is coming for our oil, as Norges Bank divests from four Canadian oil majors - and more asset managers are expected to follow, Manager argues that the energy sector is on a firmer footing, “There will be growth in populations and economic growth, that will ultimately benefit energy investors,” says 1832’s Jennifer Stevenson, A summary of Morningstar analyst reports from our Canadian coverage universe, Dividend investing isn't just about after-tax yields. is responsible for overseeing the methodology that supports the quantitative fair value. Zacks Equity Research NYSE and AMEX data is at least 20 minutes delayed. You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. If you wish to go to ZacksTrade, click OK. The company incurred capital expenditure worth C$671 million in the quarter under discussion. © Copyright 2020 Morningstar, Inc. All rights reserved. This page has not been authorized, sponsored, or otherwise approved or endorsed by the companies represented herein.
Michael O'Brien is taking selective profits and reducing his exposure to cyclical stocks. Its total production is estimated within 740,000-780,000 BPD.The unexpected descent in oil prices and deterioration in global demand due to the novel coronavirus outbreak are taking a toll on the oil and energy players. Significant growth ahead, says 1832's Jason Gibbs. How Have Estimates Been Moving Since Then?
Suncor Energy recorded soft refined product sales in the quarter under consideration, which fell to 438,800 Bbl/d from the prior-year level of 508,100 Bbl/d due to compressed refinery utilization levels. Experts have chosen 7 stocks out of 220 Zacks Rank #1 Strong Buys that have the highest potential to increase in price quickly amid the global health crisis. Terms of Use Privacy Policy Cookies, The Morningstar Star Rating for Stocks is assigned based on an analyst's estimate of a stocks fair value. Zacks Rank stock-rating system returns are computed monthly based on the beginning of the month and end of the month Zacks Rank stock prices plus any dividends received during that particular month. It is a projection/opinion and not a statement of fact. Privacy Policy | No cost, no obligation to buy anything ever. There is no one analyst in which a Quantitative Star Rating and Fair Value Estimate is Will the recent negative trend continue leading up to its next earnings release, or is Suncor Energy due for a breakout? The upstream portfolio includes bitumen, synthetic crude, and conventional crude, which helps to offset higher-cost oil sands production. Morningstar Quantitative ratings for equities (denoted on this page by) are generated using an algorithm that compares companies that are not under analyst coverage to Is the market downturn a warning or an opportunity? Morningstar assigns star ratings based on an analyst’s estimate of a stock's fair value.
regarding Conflicts of Interests, Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.
SU Dividends News Suncor Energy (SU) Declares $0.21 Quarterly Dividend; 4.7% Yield Suncor Energy (SU) Declares $0.42 Quarterly Dividend; Approves Additional $500M Buyback ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating indiv idual securities. The Quantitative Fair Value Estimate is based on a statistical model derived from the Fair Value Estimate Morningstar’s equity analysts assign to companies which includes a financial forecast of the company.
Importantly, cash flow from operating activities summed C$768 million in the second quarter, down from the prior-year figure of C$3.43 billion. Suncor Energy is one of Canada’s largest integrated energy companies, operating in western Canada, east coast Canada, the United States, and the North Sea. At the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors. fair value, and uncertainty rating. The company’s operating loss per share of 71 cents was wider than the Zacks Consensus Estimate of a loss of 44 cents. Stability is a key concern for this equity-income manager. The Quantitative Fair Value Estimate is calculated daily. Companies withratings are not formally covered by a Morningstar analyst, but are It is projection/opinion and not a statement of fact. Four components drive the Star Rating: (1) our assessment of the firm’s economic moat, (2) our estimate of the stock’s fair value, (3) our uncertainty around that fair value estimate and (4) the current market price. . It turns out, estimates revision have trended upward during the past month. We use cookies to understand how you use our site and to improve your experience. For detail information about the Morningstar Star Rating for Stocks, please visit here, Quantitative Fair Value Estimate represents Morningstar’s estimate of the per share dollar amount that a company’s equity is worth today. Estimates have been trending upward for the stock, and the magnitude of these revisions looks promising.
Output from Syncrude operations scaled down to 119,500 Bbl/d from 188,700 Bbl/d a year earlier due to unplanned maintenance. The company reiterates its capex guidance on the earnings call.The company progressed substantially in containing operating costs in the second quarter and remains on track to achieve its $1-billion operating cost-saving target by 2020 end. Shares have lost about 5.2% in that time frame, underperforming the S&P 500. This process culminates in a single-point star rating that is updated daily. Suncor Energy retains its sales, production and operating cost view, which is indicative of strengthened consumer demand and managed upstream production. This downside in the performance is due to lower commodity prices and reduced upstream production. Ads help us provide you with high quality content at no cost to you.
Since 1988 it has more than doubled the S&P 500 with an average gain of +24.53% per year. The consensus estimate has shifted 58.21% due to these changes. Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations.
September 2014 month-end recap of stocks Morningstar analysts recommend. If our base-case assumptions are true the market price will converge on our fair value estimate over time, generally within three years. During the quarter under review, the company distributed C$320 million in dividends. Real time prices by BATS. Currently, Suncor Energy has a subpar Growth Score of D, however its Momentum Score is doing a lot better with a B. This downside in the performance is due to lower commodity prices and reduced upstream production.Quarterly operating revenues of $3.06 billion fell short of the Zacks Consensus Estimate of $4.07 billion.
Click here for more on how to use these ratings. August 21, 2020. Total expenses in the reported quarter plummeted to C$5.3 billion from C$7.97 billion in the year-earlier period. Terms of Use Privacy Policy Disclosures Member User Agreement Corrections Cookies. A recent pick, Maxar, skyrocketed +178.7% in 3 months. Past performance of a security may or may not be sustained in future and is no indication of future performance. Learn about SM3 with our data and independent analysis including price, star rating, valuation, dividends, and financials. Investments in securities are subject to market and other risks. here Copyright 2020 Zacks Investment Research | 10 S Riverside Plaza Suite #1600 | Chicago, IL 60606. Suncor Energy reported loss in second-quarter 2020 results. Suncor Energy reported loss in second-quarter 2020 results. For over three decades, our Strong Buy list has averaged returns more than twice the market. We expect a below average return from the stock in the next few months. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. attributed to; however, Mr. Lee Davidson, Head of Quantitative Research for Morningstar, Inc.,
This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. This fall in output was due to a drop in the Oil Sands production. Terms of Service apply. Visit www.zacksdata.com to get our data and content for your mobile app or website. Suncor Energy Inc. (SU) - free report >>. Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in. The monthly returns are then compounded to arrive at the annual return. This site is protected by reCAPTCHA and the Google
McColl: Suncor used to not be a really strong dividend player, we didn’t think of them in that regards, but they pay about $1.04 per share dividend … And Suncor pays a quarterly dividend to investors. and Personal Securities Trading Policy in carrying out his responsibilities.
These returns cover a period from January 1, 1988 through August 31, 2020. employee of Morningstar, Inc., Mr. Davidson is guided by Morningstar, Inc.'s Code of Ethics Importantly, cash flow from operating activities summed C$768 million in the second quarter, down from the prior-year figure of C$3.43 billion.
Zacks Ranks stocks can, and often do, change throughout the month. The companies are forced to delay expansion plans and cut capital expenditures to sustain liquidity.
Did you earn +24.53% a year like the Zacks Rank? Delayed quotes by Sungard. ZacksTrade and Zacks.com are separate companies. So how is the dividend looking this quarter and how has it looked all year? Results were unpleasant due to lower output levels from Terra Nova natural declines in the United Kingdom. peer companies that do receive analyst-driven ratings.