Suncor Energy (USA) (SU) is Initiated by BofA/Merrill to Buy

Suncor Energy (USA) (SU) was Initiated by BofA/Merrill to “Buy”. BofA/Merrill advised their investors in a research report released on Aug 19, 2016.

On the company’s financial health, Suncor Energy (USA) reported $-0.36 EPS for the quarter, missing the analyst consensus estimate by $ -0.08 based on the information available during the earnings call on Jul 27, 2016. Analyst had a consensus of $-0.28.Analysts expectations of $ 6459.12.During the same quarter in the previous year, the company posted $0.63 EPS.

Suncor Energy (USA) closed down -0.22 points or -0.77% at $28.25 with 41,89,044 shares getting traded on Wednesday. Post opening the session at $28.32, the shares hit an intraday low of $27.78 and an intraday high of $28.33 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Investors should note that on Jul 27, 2016, Suncor Energy (USA) announced a cash dividend of $0.2900. The company’s management has announced Sep 1, 2016 as the ex-dividend date and fixed the record date on Sep 6, 2016. The payable date has been fixed on Sep 26, 2016.

Suncor Energy Inc. (Suncor) is an integrated energy company. The Company is focused on developing Canada’s petroleum resource basin Athabasca oil sands. The Company operates in three business segments: Oil Sands Exploration and Production and Refining and Marketing. The Company’s 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 Company’s 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.

Suncor Energy  (USA)

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