Topic: How To Invest

The Successful Investor Hotline – Friday, December 13, 2024

Article Excerpt

SUNCOR ENERGY INC., $52.37, Toronto symbol SU, is a buy. The company is Canada’s largest integrated oil firm, with major projects in the Alberta oil sands. It also operates four refineries (three in Canada and one in Colorado), along with over 1,800 Petro-Canada gas stations. Suncor now expects to spend between $6.1 billion and $6.3 billion on exploration and upgrades in 2025. That’s down from this year’s spending forecast of $6.3 billion to $6.5 billion. About two-thirds of those outlays will go to its oil sands projects. Those investments should lift Suncor’s average production for 2025 by roughly 4%, to between 810,000 and 840,000 barrels a day. Suncor also expects to increase its refinery volumes by about 1%, to between 435,000 and 450,000 barrels a day, in 2025. Thanks to the rising production volumes, Suncor will raise your quarterly dividend by 4.6%. Starting with the December 24, 2024, payment, investors will receive $0.57 a share instead of $0.545. The new annual rate of $2.28 yields a..