Video Summary: Are Suncor insiders ringing a bell?

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Here is the video summary of the August 21st INK Morning report where we see an important insider signal at Suncor (SU).

INK Research and Canadian Insider are both subscriber-supported. We do not accept payments from issuers or promoters for stock coverage.

Script (check against delivery):

If a stock had grown its earnings per share by 34% in the past year, grown its cash flow per share by 20%, had a below average debt-to-equity ratio of 40%, had bought back more than $1.3 billion worth of stock year-to-date and was trading at P/E of 10.6, investors might be all over it.  Unless that stock were in the Energy sector.

Such is the case of Canadian integrated oil giant Suncor which is down 1.8% so far this year.

Short of a severe global recession, investors may end up regretting their neglect.

CEO Mark Little has been buying along with another insider and we deem this an important signal. Last December 24th, we reported that then CEO Steve Williams was buying, and it marked a key turning point. Our report not only coincided with the 52-week low in the stock, but also the broad market.

Unlike the broad [Canadian] sector, Suncor has not traded below the December 24th low.

The question going forward is whether the current round of Suncor insider buying bodes well for the entire sector? Given that the fundamentals in many other oil patch names are also relatively attractive, we would take the purchases as a positive sign for both the company and the Canadian oil patch generally.

Our report which is not a recommendation to buy or sell securities is available through https://www.inkresearch.com/ or the Canadian Insider Club (https://www.canadianinsider.com/).  Good luck friends and thanks for listening!
 

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