Suncor Energy (TSX:SU): An oil & gas stock for long-term growth?

3 min read | January 23, 2022 04:34 PM AEDT | By Kajal Jain

Suncor Energy (TSX:SU): An oil & gas stock for long-term growth? — Image source: © 2022 Kalkine Media®

Suncor Energy Inc (TSX: SU) financial performance in Q3 FY2021

Suncor Energy generated C$ 2.64 billion as funds flow from operations in Q3 FY2021, which was up from that of C$ 1.16 billion a year ago.

The energy company, which presently has a price-to-earnings (P/E) ratio of 22.1, posted net earnings of C$ 877 million in the latest quarter, as against a loss of C$12 million in the same period a year ago.

Suncor Energy also paid an increased its quarterly dividend to C$ 0.42 apiece on December 24, up from that of a previous payment of C$ 0.21.

Data source: Suncor Energy Inc

The Calgary-based integrated energy company recorded a total upstream production of 0.69 million barrels of oil equivalent (boe) in Q3 FY2021, which was up from that of 0.61 million boe a year ago.

Suncor Energy Inc recent stock performance

Suncor Energy shares achieved a 52-week high price of C$ 36.65 earlier this week on January 18. On Thursday, January 20, the stock closed at a price of C$ 35.32 apiece, which was about four per cent down from the fresh one-year high.

The oil scrip soared by about 14 per cent in the past one month and expanded by over 53 per cent in the last one year.

Also read: Well Health (WELL) & Neighbourly: 2 head-turning healthcare stocks

Bottomline

As Suncor Energy had posted a robust year-over-year (YoY) revenue growth in its previous quarter, some analysts believe that it can continue this momentum in its upcoming earnings report due to rise in the energy prices.

However, investors should always note a company's operations and present market sentiments before investing.

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