Strong Suncor earnings a sign energy sector has turned a corner: portfolio manager [BNN Bloomberg (Canada)]
Canadian Natural Resources Limited (CNQ)
Last canadian natural resources limited earnings: 3/5 05:00 am
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US:NYSE Investor Relations:
cnrl.com/investor-information
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Source: BNN Bloomberg
Suncor shares gained five per cent on Wednesday after the company announced earnings premarket , numbers that beat expectations on most metrics including hitting a debt target ahead of schedule, and even a dividend hike. The stock is up 27 per cent year-to-date but Szybunka says there's plenty more room to run based on the company's financial performance. “They hit their $8 billion debt target sooner than the street was anticipating, now they're handing back 100 per cent of free cash flow to shareholders… all of this overall is just a really good print,” he said. Szybunka says overall sentiment in the oil patch has improved so much that last week's news of an emissions cap for oil and gas companies would normally have led to a slew of angry phone calls from investors, but instead his phone didn't ring at all on the subject. “This is called an upturn,” he said. “We were in a downturn, we are now in an upturn.” While he is bullish on the sector, Szybunka says that valuations
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Sec Filings
- 11/12/24 - Form SC
- 10/7/24 - Form 6-K
- 10/7/24 - Form 6-K
- CNQ's page on the SEC website