Two big oil companies with gains ahead

Article Excerpt

SUNCOR ENERGY INC. $43 (Toronto symbol SU; Cyclical-Growth Payer Portfolio, Resources sector; Shares outstanding: 1.6 billion; Market cap: $68.8 billion; Dividend yield: 3.3%; Dividend Sustainability Rating: Above Average; www.suncor.com) is Canada’s largest integrated oil company, with major projects in the Alberta oil sands. It also owns four refineries (three in Canada and one in Colorado), along with 1,500 Petro-Canada gas stations. With the March 2018 payment, Suncor raised its quarterly dividend by 12.5%. Investors now receive $0.36 a share, up from $0.32. The new annual rate of $1.44 yields 3.3%. Revenue in the quarter ended September 30, 2018, jumped 46.1%, to $4.8 billion from $3.3 billion. Earnings also soared, rising 40.6%, to $1.8 billion from $1.3 billion a year earlier. On a per share basis, Suncor earned $1.11 a share, 42.3% higher than the $0.78 a share it earned a year earlier. Cash flow per share rose 30.2% during the quarter, from $1.94 a share to $1.49. The company’s average daily production during the quarter was…

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