Latest news with #SuncorEnergy
E&E News
18 hours ago
- Business
- E&E News
Exxon asks Supreme Court — again — to take up climate-damages case
Exxon Mobil is launching the latest effort to convince the U.S. Supreme Court to take up lawsuits by local governments that are suing the fossil fuel industry for the costs of dealing with climate change. The oil and gas giant along with Suncor Energy filed a petition with the high court Friday, asking it to review a Colorado Supreme Court decision that allowed a climate lawsuit brought against the companies by a local city and county to proceed to state court. The petition argues that climate change is a federal issue and that by reviewing the Colorado decision, the U.S. Supreme Court could determine whether dozens of similar lawsuits filed in state courts should be heard in federal court, where the industry believes it has a legal advantage. It urges the U.S. Supreme Court 'to do so before the energy industry is threatened with potentially enormous judgments.' Advertisement The city and county of Boulder, located outside Denver in the Rocky Mountain foothills, sued Exxon and Suncor in 2018. The lawsuit — like several dozen across the U.S. — accuses the companies of deceiving the public about the dangers of burning fossil fuels and seeks compensation for the costs of rising temperatures and intensifying storms.
Yahoo
3 days ago
- Business
- Yahoo
TD Securities Raises Suncor Energy (SU) PT to C$63 Following Strong Q2 Performance
Suncor Energy Inc. (NYSE:SU) is one of the most undervalued Canadian stocks to buy now. On August 6, TD Securities raised the price target on Suncor to C$63 from C$62, while keeping a Buy rating on the shares. This announcement followed Suncor's Q2 2025 earnings report, when the company generated $2.7 billion in adjusted funds from operations and $1.0 billion in free funds flow. Net earnings for the quarter were $1.134 billion, compared to $1.568 billion in the same period of 2024. The drop came from lower upstream price realizations. A close-up shot of a large pipeline pumping crude oil and pipe valves in a petroleum trust. Suncor achieved a record second-quarter upstream production of 808,000 barrels per day (bbls/d) and a record H1 production of 831,000 bbls/d. Total Oil Sands bitumen production also hit a Q2 record of 860,800 bbls/d. E&P output increased to 59,700 bbls/d, which included increased production from the Hebron and White Rose fields. Downstream, the company achieved a record Q2 refinery throughput of 442,000 bbls/d, with a utilization rate of 95%, and a record H1 throughput of 462,000 bbls/d. Refinery product sales also set a second-quarter record at 600,500 bbls/d. Suncor Energy Inc. (NYSE:SU) is an integrated energy company in Canada, the US, and internationally. It operates through Oil Sands, Exploration & Production, and Refining & Marketing segments. While we acknowledge the potential of SU as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the . READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
4 days ago
- Business
- Yahoo
Analysts think this TSX juggernaut has another 25% upside
It was a busy earnings week in Canada with analysts revisiting price targets for some of the S&P/TSX composite index's heavy hitters. We've parsed the research notes in our inbox to to see where they think the stocks of companies including Shopify Inc., BCE Inc., Suncor Energy Inc., Manulife Financial Corp. and Canadian Tire Corp. Ltd. are headed. Stock of the week: Shopify Inc. Analysts following Shopify Inc. (SHOP) supercharged their price targets for the shares after stellar earnings and an equally upbeat outlook juiced the e-commerce giant's market cap, vaulting it over Royal Bank of Canada (RY) into top spot as the most-valuable company on the TSX. Todd Coupland, an analyst at CIBC Capital Markets hiked his price target for Shopify 25 per cent to $254 from $199 citing 'large, expanding market opportunity' and the expectation that 'Shopify's growth will outpace the market.' BMO Capital Markets technology analyst Thanos Moschopoulos also raised his price target for Shopify to $247 from $167. 'SHOP continues to execute well across its multiple growth vectors — with ongoing runway across each of these — while its merchant base has proven to be more resilient than expected,' Moschopoulos said. Shares of the Ottawa-based company were trading around $205, up 25 per cent on the week. Keeping score 'Under-owned BCE' gets a boost Is BCE Inc. finally out of the doghouse? Analysts at Desjardins Securities seem to think it deserves to be, hiking their 12-month price target to $40.50 from $40 implying a 29.4 per cent return as the shares trade in the low-$30 range. BCE's stock has been trending down over the last five years and the company recently faced intense investor criticism when it used funds from the sale of its share of Maple Leaf Sports and Entertainment Ltd. to purchase U.S. internet service provider Ziply, rather than to pay down debt. It was then forced to cut its 12 per cent dividend roughly in half. But, the Desjardins analysts are boosters of the U.S. purchase. 'We expect more investors will soon run the math on Ziply, which could drive attention toward the under-owned BCE,' analysts Jerome Dubreuil and Laurent Fortier, said in a note after the telco reported second-quarter earnings. 'We believe the improving wireless trends and the Ziply opportunity are not well-reflected in the stock,' they said. Suncor: an RBC favourite RBC Capital Markets analysts reconfirmed their 'confidence' in Suncor Energy Inc., (SU) as their 'favourite' integrated oil company in Canada and reaffirmed their price target of $65 for the stock, which is currently trading around $54, following its latest earnings release. 'The successful turnaround at Suncor over the past two years under the leadership of Rich Kruger is the quickest we have witnessed in over three decades,' RBC's Greg Pardy, head of global energy research, said in a note, referring to a rough patch for the oil giant during which several accidents resulting in the deaths of workers put the company's safety record in a harsh light. Pardy sourced the turnaround at Suncor to a change in mindset. 'From where we sit, the next big leg of Suncor's journey involves demonstration of its extensive resources and long-term production visibility,' he said. Canadian Tire stock run-up hits a wall Shares of Canadian Tire Corp. Ltd. (CTC/A) enjoyed a sweet run up in the first half of the year rising almost 19 per cent before a good chunk of that gain evaporated this week after results 'slightly' missed consensus. Analysts Brian Morrison and Andrew Lopez at TD Securities Inc. cut their price target to $184 from $201. The stock is currently trading around the $159 mark having dropped nearly 14 per cent on the earnings. The earnings miss didn't bother the analysts so much as the 'elevated expenses associated with the True North strategy' — a four-year, $2-billion transformation strategy the retailer is undertaking. BMO analyst Tamy Chen also cut her price target for Canadian Tire to $175 from $191. Shopify regains title as Canada's most valuable company after stock soars 20% Markets may have stabilized but as you enjoy the ride don't lose sight of the risks A chance to jump in on Manulife Shares of Manulife Financial Corp. (MFC) fell nearly four per cent after it released its earnings this week but analysts at Scotabank Capital Markets think that provides a nice opening for investors. 'We reiterate our sector outperform rating and believe that investors with a longer-term view will benefit by buying into the weakness,' Mike Rizvanovic and Felix Fang said in a note, pointing to their 'favourable view on the lifeco's higher-growth Asia and GWAM (global wealth and asset management) segments.' The Scotiabank pair cut their price target for the shares to $45 from $47. Shares of Manulife are currently trading around $41 and are down six per cent year to date. • Email: gmvsuhanic@
Globe and Mail
5 days ago
- Business
- Globe and Mail
Suncor Energy Q2 Earnings & Revenues Beat Estimates, Both Down Y/Y
Suncor Energy Inc. SU reported second-quarter 2025 adjusted operating earnings of 51 cents per share, which marginally beat the Zacks Consensus Estimate of 50 cents. This outperformance can be attributed to strong production growth in its upstream segment. However, the bottom line declined considerably from the year-ago quarter's reported figure of 93 cents due to lower adjusted operating earnings in the downstream segment. Operating revenues of $8.6 billion beat the Zacks Consensus Estimate by 11.3% primarily due to increased sales volumes in both the upstream and downstream segments. However, the top line decreased approximately 9.8% year over year. Suncor Energy's board of directors declared a quarterly dividend of 57 Canadian cents per share for its common shareholders of record as of Sept. 4, 2025. The payout, which is unchanged from the previous quarter, will be made on Sept. 25. During the quarter, the Alberta-based integrated energy company distributed a total of C$1.45 billion to its shareholders, including C$750 million in share repurchases and C$700 million in dividends. The company generated C$2.7 billion in adjusted funds from operations and C$1 billion in free cash flow in the quarter. In the quarter under discussion, the company achieved a record upstream production of 808,100 barrels per day (bbls/d). Refining throughput was also near-record, totaling 442,000 bbls/d with refinery utilization at 95%. The company recorded the refined product sales of 600,500 bbls/d, increasing from the prior-year sales of 594,700 bbls/d. Segmental Performance of SU Upstream: Total production in this segment increased 4.9% year over year from 770,600 bbls/d. Moreover, the figure beat the consensus estimate of 791,000 bbls/d. In the second quarter of 2025, total oil sands bitumen production increased to 860,800 bbls/d compared with 834,400 bbls/d in the previous-year quarter. This growth was primarily fueled by record output at Firebag. The company's E&P volume (international, offshore and natural gas) increased 9.3% to 59,700 bbls/d from 54,600 bbls/d in the year-ago quarter, driven by increased production at Hebron and the addition of production at White Rose, which restarted in the first quarter of 2025. Additionally, the figure beat the consensus estimate of 54,000 bbls/d. Operating earnings totaled C$873 million, indicating a 46.3% decrease from the year-ago quarter's C$1.6 billion due to lower upstream price realizations. Operating costs from Oil Sands operations decreased to C$27.95 per barrel from C$28.45 in the corresponding period of 2024. This decrease was mainly due to a lower proportion of Fort Hills bitumen being directed to upgrading at Oil Sands Base due to planned maintenance and increased power sales volumes. Total oil sands production rose to 748,400 bbls/d in the second quarter of 2025, up from 716,000 bbls/d in the previous year. Moreover, the figure beat the consensus estimate of 731,000 bbls/d. Non-upgraded bitumen production rose to 310,200 bbls/d from 254,300 bbls/d in the previous year. Moreover, the figure beat the consensus estimate of 266,000 bbls/d. Net SCO and diesel production decreased to 438,200 bbls/d from 461,700 bbls/d a year earlier. Additionally, the number missed the consensus estimate of 465,000 bbls/d. Fort Hills reported an average second-quarter volume of 162,900 barrels per day (bpd), lower than the year-ago quarter's level of 166,900 bpd. However, the figure beat the consensus estimate of 157,000 bpd. The Fort Hills cash operating cost per barrel increased to C$36.75 from C$30.60 in the prior-year period. This was due to increased mining activities and commodity costs, and decreased production volumes due to a longer planned maintenance program in the current year. Furthermore, Syncrude's cash operating costs per barrel decreased to C$36.50 from C$40.15 in the same quarter last year. This decrease was mainly caused by increased production volumes. The oil sands base upgrader operated at 80% capacity and Syncrude achieved a record 91%, compared with 92% and 81%, respectively, in the prior-year quarter. This was primarily due to increased upgrader-related maintenance activities in the current period, including the Upgrader 1 coke drum replacement project and turnaround. Downstream: Refining and Marketing adjusted operating earnings for the second quarter of 2025 were C$404 million, down from C$588 million in the same quarter last year. The decline in adjusted operating earnings was mainly due to a first-in, first-out inventory valuation loss and a one-time emissions compliance charge in the reported quarter. Refined product sales totaled 600,500 bpd, up from the prior-year quarter's level of 594,700 bpd. This growth was driven by higher refinery throughput and the execution of the previously announced retail growth plan. Refinery crude throughput totaled 442,300 bpd compared with 430,500 bpd in the year-ago period. Additionally, the number beat the consensus estimate of 397,000 bpd. Refinery utilization was 95% compared with 92% a year ago. This increase in refinery crude throughput was due to strong operating performance. SU's Financial Position Total expenses decreased 3.7% to C$10.5 billion from the prior-year quarter. Operating, selling and general expenses almost remained consistent at C$3.163 billion in the second quarter of 2025, compared with C$3.153 billion in the prior-year quarter, as higher commodity input costs and increased mining costs were largely offset by decreased share-based compensation expense. Cash flow from operating activities amounted to C$2.9 billion, down from the prior-year quarter's level of C$3.8 billion. Suncor Energy incurred capital expenditures worth C$1.6 billion in the second quarter of 2025. As of June 30, 2025, the company had cash and cash equivalents of C$2.3 billion and long-term debt of C$8.6 billion. Its debt-to-capitalization was 16.1%. 2025 Guidance of Suncor Energy On Aug. 5, SU issued an updated guidance for 2025 by reducing full-year estimated capital spend from C$6.1-C$6.3 billion to C$5.7-C$5.9 billion. Estimated ranges for current income taxes, royalties and business environment have also been adjusted to reflect the current business environment. The company expects the other guidance previously released on Dec. 12, 2024, to remain unchanged as follows: It expects upstream production to range from 810,000 boe/d to 840,000 boe/d for 2025. This includes upgraded net SCO and diesel production, which is predicted to be between 485,000 boe/d and 495,000 boe/d, along with non-upgraded bitumen production expected to fall between 280,000 boe/d and 290,000 boe/d. Oil Sands Operations production is anticipated to range from 445,000 boe/d to 470,000 boe/d, with Fort Hills contributing in the band of 165,000 boe/d to 175,000 boe/d and Syncrude (58.74% working interest) expected to produce between 190,000 boe/d and 200,000 boe/d. Additionally, E&P production is forecasted in the range of 45,000-55,000 boe/d. On the other hand, the company expects cash operating costs for its Oil Sands operations in the range of C$26-C$29 per barrel. Specifically, cash operating costs for Fort Hills are expected in the band of C$33-C$36 per barrel, while costs for Syncrude are anticipated in the range of C$34-C$37. The company expects refinery throughput to be between 435,000 bpd and 50,000 bpd, refinery utilization in the band of 93-97% and refined product sales in the range of 555,000-585,000 barrels per day. SU currently has a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Important Energy Earnings so far While we have discussed Suncor Energy's second-quarter results in detail, let us take a look at some other key energy reports of this season. Coterra Energy Inc. CTRA reported second-quarter 2025 adjusted earnings per share of 48 cents, which beat the Zacks Consensus Estimate of 43 cents. The bottom line also outperformed the year-ago quarter's 37 cents. This was largely attributed to stronger-than-expected operational performance, particularly in oil and natural gas production volumes. This oil and gas exploration and production firm's operating revenues of $2 billion beat the Zacks Consensus Estimate of $1.7 billion. Moreover, the figure was outstandingly higher than the year-ago figure of $1.3 billion. This can be attributed to higher natural gas price realizations. As of June 30, 2025, the company had $192 million in cash and cash equivalents with no debt outstanding under its $2 billion revolving credit facility. This resulted in the company's total liquidity of about $2.2 billion. Coterra Energy had a long-term debt (net) of $4.2 billion as of the same date, indicating a debt-to-capitalization of 22.3%. Imperial Oil Limited IMO reported second-quarter 2025 adjusted earnings per share of $1.34, which beat the Zacks Consensus Estimate of $1.22. However, the bottom line decreased from the year-ago quarter's $1.54. This decrease was due to lower upstream price realizations, partly offset by higher production volumes. Revenues of $8.1 billion missed the Zacks Consensus Estimate of $10.5 billion. The top line also decreased from the year-ago quarter's level of $9.8 billion, primarily due to weak performance in the Chemical segment. As of June 30, 2025, Imperial Oil had cash and cash equivalents of C$2.4 billion. Total debt of the company amounted to C$4 billion, with a debt-to-capitalization of 13.8%. TC Energy Corporation TRP reported second-quarter 2025 adjusted earnings of 59 cents per share, which beat the Zacks Consensus Estimate of 56 cents. This can be attributed to the better performance of all four segments of the company. However, the bottom line decreased from 69 cents in the year-ago period. This energy infrastructure provider's quarterly revenues of $2.7 billion also beat the Zacks Consensus Estimate of $2.5 billion. However, the figure decreased 9.4% year over year. As of June 30, 2025, TC Energy's capital investments amounted to C$1.4 billion. TRP had cash and cash equivalents worth C$1.4 billion and long-term debt of C$43.3 billion, with a debt-to-capitalization of 59% as of the same date. See our %%CTA_TEXT%% report – free today! 7 Best Stocks for the Next 30 Days Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Suncor Energy Inc. (SU): Free Stock Analysis Report Imperial Oil Limited (IMO): Free Stock Analysis Report TC Energy Corporation (TRP): Free Stock Analysis Report Coterra Energy Inc. (CTRA): Free Stock Analysis Report
Business Insider
5 days ago
- Business
- Business Insider
Suncor Energy (SU) Gets a Buy from RBC Capital
In a report released on August 6, Gregory Pardy from RBC Capital maintained a Buy rating on Suncor Energy, with a price target of C$65.00. The company's shares closed yesterday at $39.03. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. According to TipRanks, Pardy is a 5-star analyst with an average return of 19.2% and a 61.30% success rate. Pardy covers the Energy sector, focusing on stocks such as Ovintiv, Cenovus Energy, and Baytex Energy. In addition to RBC Capital, Suncor Energy also received a Buy from Desjardins's Chris MacCulloch in a report issued yesterday. However, on August 6, Raymond James maintained a Hold rating on Suncor Energy (NYSE: SU). Based on Suncor Energy's latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $13.33 billion and a net profit of $1.69 billion. In comparison, last year the company earned a revenue of $13.31 billion and had a net profit of $1.61 billion Based on the recent corporate insider activity of 23 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SU in relation to earlier this year.
