12 Best Energy Stocks to Buy According to Billionaire Ken Fisher

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10. Suncor Energy Inc. (NYSE:SU)

Fisher Asset Management’s Stake: $133.2 million

Number of Hedge Fund Holders: 50

Suncor Energy Inc. (NYSE:SU) is a premier integrated energy company headquartered in Alberta, Canada, that explores, develops, and produces crude oil and natural gas, as well as refines and markets petroleum products.

On January 7, BMO Capital Markets reaffirmed Suncor Energy Inc.’s (NYSE:SU) Outperform rating alongside a price target of Cdn$65. According to the firm, Suncor’s 2024 was characterized by improved dependability, fast turnarounds, significant production increase, and great facility utilization. Following the examination of the operational update, which contained multiple quarterly and yearly records for the fourth quarter and the whole year of 2024, analysts expressed optimism that Suncor Energy Inc. (NYSE:SU) is well-positioned to maintain its momentum into 2025.

Suncor Energy Inc.’s (NYSE:SU) latest earnings report for the fourth quarter of 2024 revealed strong financial performance and record operational indicators, capping an excellent year. The firm raked in $3.5 billion in adjusted funds from operations and $1.9 billion in free cash flow, with significant distributions to shareholders via dividends and share repurchases. Suncor also achieved record upstream production of 875,000 barrels per day and notable refinery utilization rates. Despite a fall in net earnings from the previous year, Suncor’s adjusted operating profitability was robust, driven by rising sales volumes and strategic expenditures, such as a new cogeneration facility.

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