SU expects 1Q18e production of ~685 mboe/d, which is ~100 mboe/d below expectations. The January plant outage had a bigger impact than we realized, while the turnaround start at Syncrude has been moved up to mid-March. Our 2018e production and CFPS estimates are down 3%. Our 1Q18e CFPS estimate is down $0.21 to $1.30, but would be ~$1.49 if we were using quarter-to-date commodity prices, which is in line with where consensus was prior to this update. $46.00/share target price and HOLD rating
14 Mar 2018
SU – guides to weak 1Q18e production
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SU – guides to weak 1Q18e production
Suncor Energy Inc. (SU:TSE) | 0 0 (-0.3%) | Mkt Cap: 69,601m
- Published:
14 Mar 2018 -
Author:
Michael P. Dunn -
Pages:
5
SU expects 1Q18e production of ~685 mboe/d, which is ~100 mboe/d below expectations. The January plant outage had a bigger impact than we realized, while the turnaround start at Syncrude has been moved up to mid-March. Our 2018e production and CFPS estimates are down 3%. Our 1Q18e CFPS estimate is down $0.21 to $1.30, but would be ~$1.49 if we were using quarter-to-date commodity prices, which is in line with where consensus was prior to this update. $46.00/share target price and HOLD rating