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    SU   CA8672241079

SUNCOR ENERGY INC.

(SU)
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Suncor Energy : Canada's Suncor posts quarterly profit on improved crude prices

07/28/2021 | 07:48pm EDT
FILE PHOTO: Suncor Energy facility is seen in Sherwood Park, Alberta

(Reuters) - Oil producer Suncor Energy Inc posted a second-quarter profit compared to a year ago loss on Wednesday, as crude prices rebounded from pandemic-driven lows.

Like many of its peers, Suncor has been generating bumper free cash flow this year thanks to higher oil prices.

The bulk of the company's operations are in northern Alberta's oil sands, and it is aiming to cut carbon emissions by one-third while also boosting production.

The company said its total upstream production rose to 699,700 barrels of oil equivalent per day (boepd) during the second quarter from 655,500 boepd a year earlier.

The company, Canada's second-largest oil producer, posted net earnings of C$868 million ($693.24 million), or 58 Canadian cents per share, in the three months ended June 30, compared with a loss of C$614 million, or 40 Canadian cents per share, year earlier.

($1 = 1.2521 Canadian dollars)

(Reporting by Rithika Krishna in Bengaluru; Editing by Shinjini Ganguli and Maju Samuel)


ę Reuters 2021
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Analyst Recommendations on SUNCOR ENERGY INC.
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Financials
Sales 2021 39 064 M 30 849 M 30 849 M
Net income 2021 4 033 M 3 185 M 3 185 M
Net Debt 2021 12 578 M 9 933 M 9 933 M
P/E ratio 2021 9,73x
Yield 2021 3,28%
Capitalization 37 949 M 29 893 M 29 968 M
EV / Sales 2021 1,29x
EV / Sales 2022 1,12x
Nbr of Employees 12 591
Free-Float 98,5%
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Mean consensus OUTPERFORM
Number of Analysts 19
Last Close Price 25,59 CAD
Average target price 36,61 CAD
Spread / Average Target 43,1%
EPS Revisions
Managers and Directors
Mark S. Little President, Chief Executive Officer & Director
Alister Cowan Chief Financial Officer & Executive Vice President
Michael M. Wilson Chairman
Bruno Francoeur Executive Vice President-Business & Operations
Eira Margaret Thomas Independent Director
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