Suncor Energy SU stock has formed a turnaround chart pattern as bottom feeders increasingly take positions in the stock. SU stock is currently testing a downtrend channelUptrend and downtrend channel patterns are technical analysis tools used to identify potential future price movements. They are formed by two parallel lines on a chart and can be u... breakout.
Unusual Option Flow Call Buying
Unusual call buy was detected in SU stock on July 28, 2023. Someone spent $946K on the October 20, 2023, $32 strike call option.
Suncor Energy is a Canadian integrated energy company. It is involved in the production of oil and gas, refining and marketing of petroleum products, and the development and operation of renewable energy projects. Suncor Energy operates in various areas, including oil sands development, offshore oil and gas exploration, and production, refining operations, and retail fuel sales. The company is also committed to sustainable energy development and has invested in renewable energy sources such as wind power and biofuels.
Fundamental Analysis of Suncor Energy
The fully integrated company has very strong cash flowThe cash flow statement provides a detailed overview of the cash inflows and outflows of a company over a specified period of time. It includes cash received from operations, inves..., market-leading margins, and management that is fully committed to maximizing shareholder returns by returning nearly 75% of free cash flow to investors through buybacks and dividends. The business continues to run with excellence, and based on a number of metrics, the stock appears to be undervalued.
The company’s management recently revealed that it earned $1.15 per share GAAP and $9.16 billion in revenues versus expectations of $7.8 billion in revenueThe income statement provides a summary of a company's revenue and expenses over a specified period of time, typically a year or a quarter. It shows the company's total revenue, th... at 97 cents per share. In addition, the company reported that management returned $1.06 billion to shareholders in just the first quarter, with $874 million going toward share repurchases and $690 million going toward dividends.
