Sept. 23, 2020
Introduction
I am speculating on Suncor stock. I lose over $1800 dollars from August 31 to Sept 22, so I like to purchase 500 shares to recover some losses, and invest for long term.
Suncor - more reading
Here is the article.
Why Suncor Energy lost momentum this month
In 2017, Suncor’s then-CEO Steve Williams said that the Canadian oil sands would still be operating 100 years from now. The statement illustrated Suncor’s ironclad confidence in the sustainability of its business model. Shares of Suncor have dropped 58% in 2020 as of close on September 22. The stock is down 18% month over month.
Investors can expect to see its third quarter 2020 results in late October. In Q2 2020, Suncor reported an operating loss of $1.49 billion or $0.98 per share – down from operating earnings of $1.25 billion or $0.80 per share in the prior year. The company posted total upstream production of 655,500 boe/d – down from over 800,000 boe/d in Q2 2019. It was forced to adjust due to lower demand.
Shares of Suncor last had an attractive price-to-book value of 0.7. It last reduced its quarterly dividend to $0.21 per share. This represents a solid 4.9% yield.
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