Buffett’s Suncor bet to revive investor interest in Canadian energy [Toronto Globe and Mail (Ontario, Canada)]
Suncor Energy Inc. (SU)
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Source: Toronto Globe and Mail
Buffett’s Suncor bet to revive investor interest in Canadian energy Berkshire Hathaway Inc.’s reinvestment in Suncor Energy Inc. highlights the benefits of being an integrated oil company and could revive investor interest in the languishing Canadian energy sector, fund managers said. The move is also seen by some as a wager the energy sector could benefit from a change in the guard in oil-rich Alberta, which has an election this year. Berkshire’s new .7-per-cent stake in Suncor, valued at $488-million at current prices, is already worth 23 per cent more since Berkshire bought it in the previous quarter. It comes more than two years after it sold, for $618-million, a 1.4-per-cent stake it had bought in 213 and added to in 215. Story continues below advertisement Its re-entry is seen by analysts as a validation that Canada’s biggest oil and gas company has catalysts – such as a new incoming chief executive and the eventual removal of Alberta oil curtailments – that could propel the sto
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SU
News
- Canada unions brace for 2025 labor crunch in oil sands maintenance season [Reuters]Reuters
- Suncor Energy Inc. (NYSE: SU) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating.MarketBeat
- Higher oil doesn't shake industry talk on spending discipline at CAPP conference [BNN Bloomberg (Canada)]BNN Bloomberg
- Higher oil doesn't shake industry talk on spending discipline at CAPP conference [Financial Post (Toronto, Ontario, Canada)]Financial Post
- Tuesday's analyst upgrades and downgrades [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
SU
Earnings
- 2/21/24 - Beat
SU
Sec Filings
- 3/27/24 - Form 6-K
- 3/22/24 - Form 6-K
- 3/22/24 - Form 40-F
- SU's page on the SEC website