This restart will lift Suncor’s revenue

Article Excerpt

SUNCOR ENERGY INC. $40 (Toronto symbol SU; Conservative Growth Portfolio, Resources sector; Shares outstanding: 1.6 billion; Market cap: $64.0 billion; Price-to-sales ratio: 1.6; Dividend yield: 4.2%; TSINetwork Rating: 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 over 1,750 Petro-Canada gas stations. Another of the company’s key assets is its 27.5% stake of the White Rose platform off the coast of Newfoundland & Labrador; Husky Energy (Toronto symbol HSE) owns the other 72.5% and operates the project. Due to a problem with an underwater flowline following an oil spill, White Rose shut down in November 2018. Husky and Suncor have now completed the repairs, and White Rose is again operating at normal capacity. That will add roughly 5,500 barrels a day to Suncor’s current production of 803,900 barrels. Suncor is a buy. buy…