Operating results were very strong in 1Q15, with oilsands production (previously disclosed) coming in at a record, while cash operating costs of $28.40/bbl were the lowest in seven years. The strong SOR of 2.6x at Firebag in 4Q14 continued into 1Q15e. Our $38.00/share target price is unchanged, based on a 17% premium to our RENAV of $32.43/share using a 9% discount rate. Similar to other peers within our Canadian Integrated universe, the share price is trading above our target price; within t
04 May 2015
1Q15 Analysis
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1Q15 Analysis
Suncor Energy Inc. (SU:TSE) | 0 0 (-0.3%) | Mkt Cap: 69,601m
- Published:
04 May 2015 -
Author:
Michael P. Dunn -
Pages:
12
Operating results were very strong in 1Q15, with oilsands production (previously disclosed) coming in at a record, while cash operating costs of $28.40/bbl were the lowest in seven years. The strong SOR of 2.6x at Firebag in 4Q14 continued into 1Q15e. Our $38.00/share target price is unchanged, based on a 17% premium to our RENAV of $32.43/share using a 9% discount rate. Similar to other peers within our Canadian Integrated universe, the share price is trading above our target price; within t