Suncor Energy (SU) : Traders are bullish on Suncor Energy (SU) as it has outperformed the S&P 500 by a wide margin of 3.44% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.17%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.14% in the last 1 week, and is up 3.83% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Suncor Energy Inc. is up 8.97% in the last 3-month period. Year-to-Date the stock performance stands at 12.05%. The stock has recorded a 20-day Moving Average of 4.6% and the 50-Day Moving Average is 4.01%.
Suncor Energy (NYSE:SU): The stock opened at $28.51 on Friday but the bulls could not build on the opening and the stock topped out at $28.61 for the day. The stock traded down to $28.34 during the day, due to lack of any buying support eventually closed down at $28.43 with a loss of -1.01% for the day. The stock had closed at $28.72 on the previous day. The total traded volume was 2,429,440 shares.
Also, Bank of America initiates coverage on Suncor Energy (NYSE:SU) The brokerage firm has issued a Buy rating on the shares. The rating by the firm was issued on August 19, 2016.
Suncor Energy Inc. (Suncor) is an integrated energy company. The Company is focused on developing Canadas petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production, and Refining and Marketing. The Companys Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations. Its Exploration and Production segment consists of offshore operations off the east coast of Canada and in the North Sea, and onshore assets in North America, Libya and Syria. The Companys Refining and Marketing segment is engaged in Refining and Supply, and Downstream Marketing. In addition, the Company explores, for, acquires, develops, produces and markets crude oil and natural gas in Canada and internationally. The Company also transports and refines crude oil, and markets petroleum and petrochemical products primarily in Canada.