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Suncor Energy holds a "Moderate Buy" consensus rating with an average target price of $56.40. The company recently increased its quarterly dividend to $0.4089 per share, reflecting a 4.12% yield. Institutional investors own 67.37% of the stock, with significant recent purchases from various hedge funds.
Suncor Energy Inc., a Canada-based integrated energy company, operates in oil sands, exploration and production, and refining and marketing. The company is focused on developing petroleum resources while transitioning to a lower-emission future through investments in renewable fuels and lower-emission electricity. Additionally, Suncor is involved in energy trading and owns the Fort Hills project in Alberta.
Suncor"s price target has been significantly reduced to C$65 from C$610 by UBS. This adjustment reflects a notable shift in market expectations for the company.
Oil Minister Hardeep Singh Puri announced that major oil-consuming countries are unlikely to experience fuel shortages as producers like the US, Brazil, and Canada increase crude supply. Brazil is set to add 300,000 to 400,000 barrels per day, while the US may contribute an additional million barrels. Puri emphasized the importance of stable crude oil prices for India's economic decisions, given its reliance on imports for over 85% of its oil needs.
UBS has updated its U.S. Top Picks list, adding Suncor, Entergy, and Sempra shares while removing Visa and Intercontinental Exchange. Suncor's turnaround under new CEO Rich Kruger and Entergy's declining regulatory risk are highlighted, while Bank of America and Truist Financial are favored for their potential benefits from economic conditions.
UBS has updated its top picks, adding Bank of America and Truist Financial, reflecting expectations for a soft landing in the U.S. economy. The firm removed Intercontinental Exchange and Visa from its list, favoring banks that can leverage interest rate cuts. Additionally, UBS made adjustments in other sectors, adding Suncor Energy, Entergy Corp, and Sempra Energy, while maintaining financials, information technology, and utilities as its most preferred sectors.
Suncor Energy Inc., a Canadian integrated energy company, operates in segments including oil sands, exploration and production, and refining and marketing. It engages in oil sands development, offshore oil and gas extraction, and operates Petro-Canada's extensive retail network, which features over 1,800 locations and a commitment to low-carbon fuels. The company is also advancing towards a low-emission future through investments in renewable energy and owns the Fort Hills project in Alberta.
Suncor Energy Inc.
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suncor energy receives moderate buy rating with increased dividend announcement
12:01 29.11.2024
uncor energy maintains buy recommendation amid transition to lower emissions
19:02 18.11.2024
Suncor price target reduced significantly by UBS to C65 from C610
11:35 18.11.2024
oil minister assures stable supply as producers increase crude output
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Suncor Energy Inc.
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12:57 14.11.2024
ubs updates top picks adding energy and financial stocks while removing others
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14:43 28.10.2024
ubs updates top stock picks adding bank of america and truist
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13:53 28.10.2024
suncor energy integrates oil sands production with renewable energy initiatives
17:02 18.10.2024
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