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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (135946)	11/2/2022 2:32:58 PM
From: Goose94	Read Replies (1) of 202716

Suncor Energy (SU-T) top pick from Michael Sprung on BNN.ca Market Call Wednesday November 2nd @ 1200ET Suncor is Canada's largest oil and gas company with upstream operations focused on the Alberta oil sands and offshore operations on Canada's east coast. The company's downstream business operates four refineries in the U.S. and Canada. Management has raised capital recently through the sale of wind and solar assets to Canadian Utilities for $730 million and the disposition of assets in Norway for $410 million. It is believed that assets in the U.K. may also be sold. A strategic review of the company's retail operations is also underway. Suncor has recently announced the acquisition of Teck Resource's interest in the Fort Hills oil sands project for one billion dollars. This purchase will increase Suncor's interest in the project from 54.1 per cent to 75.4 per cent. The remaining 24.6 per cent is currently owned by TotalEnergies EP Canada Ltd. Over time, management estimates that greater control will allow better optimization of the Fort Hills operations. At current levels, the stock is attractively priced and yields 4.1 per cent. Last Purchase: October 27, 2022 $45.52

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