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Suncor (SU) Looks Good: Stock Adds 13% in Session
Suncor Energy Inc. (SU - Free Report) was a big mover last session, as the company saw its shares rise 13% on the day. The move came on solid volume with far more shares changing hands than in a normal session. This reverses the recent trend for the company, as the stock is down 59.2% in the past one-month time frame.
The move came after the company reported that it trimmed 2020 capital spending guidance by nearly 26% from prior expectations after reckoning the ongoing decline in commodity prices.
The company has seen three negative estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few weeks, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.
Suncor currently carries a Zacks Rank #5 (Strong Sell) while its Earnings ESP is 0.00%.
Suncor Energy Inc. Price
Suncor Energy Inc. price | Suncor Energy Inc. Quote
A better-ranked stock in the broader Oil and Gas sector is RGC Resources Inc. (RGCO - Free Report) , which currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
More Stock News: This Is Bigger than the iPhone!
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