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's Stochastic Oscillator is remaining in oversold zone for 3 days
The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an uptrend is expected.
Technical Analysis (Indicators)
Bullish Trend Analysis
SNMCY moved above its 50-day moving average on November 15, 2024 date and that indicates a change from a downward trend to an upward trend.
The 10-day moving average for SNMCY crossed bullishly above the 50-day moving average on November 21, 2024. This indicates that the trend has shifted higher and could be considered a buy signal. In of 21 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over 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 November 25, 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 04, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on SNMCY as a result. In of 112 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 03, 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 57 similar instances when the indicator turned negative. In of the 57 cases the stock turned lower in the days that followed. This puts the odds of success at .
SNMCY broke above its upper Bollinger Band on November 22, 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 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 51, placing this stock better than average.
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 Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. SNMCY’s price grows at a higher 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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Fundamental Analysis Ratings
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