Suncor Energy (SNMCY; $8.08) Q2 profit rises fourfold
Suncor Energy reported a more than fourfold surge in profit in its second quarter, thanks to higher crude oil prices. The company also indicated its plans to divest assets.
Net earnings rose more than fourfold to C$3.996 billion ($3.11 billion), or C$2.84 per share for the quarter ended June, compared with C$868 million, or 58 Canadian cents a year earlier. The company's net synthetic crude oil production rose to 483,000 bbls/d in the second quarter of 2022, compared to 437,200 bbls/d in the year-ago quarter.
Suncor boosted its full-year capital expenditure projection to $4.9 billion-$5.2 billion from prior forecast of $4.7 billion, on inflationary pressures and increased safety improvement expenditure.
The company cut its 2022 production forecast to 740,000-760,000 barrels per day from 750,000-790,000.
SNMCY sees its Stochastic Oscillator ascends from oversold territory
On December 23, 2024, the Stochastic Oscillator for SNMCY moved out of oversold territory and this could be a bullish sign for the stock. Traders may want to buy the stock or buy call options. Tickeron's A.I.dvisor looked at 64 instances where the indicator left the oversold zone. In of the 64 cases the stock moved higher in the following days. This puts the odds of a move higher at over .
Technical Analysis (Indicators)
Bullish Trend Analysis
Following a +1 3-day Advance, the price is estimated to grow further. Considering data from situations where SNMCY advanced for three days, in of 118 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 206 cases where SNMCY Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Bearish Trend Analysis
The 10-day RSI Indicator for SNMCY moved out of overbought territory on December 10, 2024. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 28 similar instances where the indicator moved out of overbought territory. In of the 28 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Momentum Indicator moved below the 0 level on December 10, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on SNMCY as a result. In of 110 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
The Moving Average Convergence Divergence Histogram (MACD) for SNMCY turned negative on December 12, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 58 similar instances when the indicator turned negative. In of the 58 cases the stock turned lower in the days that followed. This puts the odds of success at .
SNMCY moved below its 50-day moving average on December 17, 2024 date and that indicates a change from an upward trend to a downward trend.
The 10-day moving average for SNMCY crossed bearishly below the 50-day moving average on December 23, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 21 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where SNMCY declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
SNMCY broke above its upper Bollinger Band on December 09, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly undervalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (1.366) is normal, around the industry mean (2.121). P/E Ratio (21.739) is within average values for comparable stocks, (31.462). SNMCY's Projected Growth (PEG Ratio) (0.000) is slightly lower than the industry average of (1.023). Dividend Yield (0.035) settles around the average of (0.031) among similar stocks. P/S Ratio (1.532) is also within normal values, averaging (1.436).
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 52, placing this stock better than average.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating fairly steady price growth. SNMCY’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
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