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Why Has Suncor Energy Inc. (NYSE: SU) Declined So Much?

Suncor Energy Inc. (NYSE:SU) traded at $32.98 at last check on Tuesday, 01/24/23, made a downward move of -1.61% on its previous day’s price.

Looking at the stock we see that its previous close was $33.52 and the beta (5Y monthly) reads 1.69 with the day’s price range being $33.21 – $33.75. The company has a trailing 12-month PE ratio of 8.15. In terms of its 52-week price range, SU has a high of $42.72 and a low of $25.80. The company’s stock has gained about 7.85% over that past 30 days.

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Suncor Energy Inc. has a market cap of $45.26 billion and is expected to release its quarterly earnings report on Feb 14, 2023 – Feb 20, 2023. With its Forward Dividend at 1.55 and a yield of 4.62%, the company’s investors could be anxious for the SU stock to gain ahead of the earnings release. Estimates by analysts give the company expected earnings per share (EPS) of $1.31, with the EPS growth for the year raised at $6.11 for 2022 and $4.58 for next year. These figures represent 218.20% and -25.00% growth in EPS for the two years respectively.

Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $10.66 billion, with a low of $9.83 billion and a high of $11.25 billion. The median projection represents growth squeezing down to 27.40% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2022 is expected to hit $45.04 billion, or 53.60% up from figures reported last year.

There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the SU stock, short term indicators assign the stock an average of 50% Sell, while medium term indicators assign it an average of 50% Buy. Long term indicators on average place the stock in the category of Hold.

Based on estimates by 21 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 9 have rated the Suncor Energy Inc. (SU) stock as a Hold, while 11 rate it as a Buy. 0 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 1 suggest the stock as a Sell. The stock has an overall rating of Overweight and investors could take advantage and scoop up stock of the company.

Looking further, we note that the PEG ratio for the SU stock currently stands at 0.25, and the most recent price level today is 3.59% off its SMA20 and 1.63% from its 50-day simple moving average. The RSI (14) is pointing at 56.18 while the volatility over the past week is 2.60% and jumps to 2.76% over the past one month. The beta value is 1.30, while the average true range (ATR) is currently pointing at 0.92. The average price target for the stock over the next 12 months is $39.25, with the estimates having a low of $32.14 and a high of $49.33. These price ends are 2.55% and -49.58% off the today’s price level respectively, although investors could be excited at the prospect of a -17.68% if the SU share price touches on the median price of $38.81.

Let’s briefly compare Suncor Energy Inc. (SU) stock to its peers. We find that today’s price change of -1.61% and 23.83% over the past 12 months for SU competes that of TotalEnergies SE (TTE), which has seen its stock price fall -1.22% in the latest trading session and is 16.84% over the last one year. Another of its peers Canadian Natural Resources Limited (CNQ) has dropped -2.15% today, and was 21.74% up over the past year, while Exxon Mobil Corporation (XOM) is also down -1.80% yet, while its price remains in the green at 57.70% over the same period. Suncor Energy Inc. has a P/E ratio of 8.15 compared to TotalEnergies SE’s 7.33 and Canadian Natural Resources Limited’s 7.95. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial are today at -1.45% and -1.08%, respectively, in early deals.

Coming back to Suncor Energy Inc. (NYSE:SU), we note that the average 3-month trading volume was 5.17 million, while that of the preceding 10-day period stands at 3.93 million. Current shares outstanding are 1.36 billion.

The insiders hold 0.02% of the company’s shares while institutions hold 68.50%. The data shows that short shares as of Dec 29, 2022, stood at 47.37 million at a short ratio of 7.61. This represents a 3.51% short interest in shares outstanding on Dec 29, 2022. Shares short fall in December from the previous month at 106.45 million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock 5.64% up in year-to-date price movement.

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