Billionaire Paul Singer’s Top 12 Long-Term Stock Picks

2. Suncor Energy Inc. (NYSE:SU)

Elliott Management’s Stake Value: $1.94 Billion

Elliott Management First Major Purchase: 2022

Number of Hedge Fund Holders: 47

Suncor Energy Inc. (NYSE:SU) is an integrated energy company that explores, develops, and produces bitumen, synthetic crude oil, and related products. The company generates revenues from crude oil, refining and gas station sales. Therefore, its competitive edge as one of Billionaire Paul Singer’s long-term stock picks stems from its ability to make money from every step in the oil and gas supply chain.

Suncor Energy Inc. (NYSE:SU) has over 7 billion barrels of oil, ensuring they can keep producing and earning money for a long time. They have made big improvements in reducing costs and working more efficiently. The company has used new technologies and simplified their processes to save money.

The company increased its production by 14% from September to about 284,000 barrels per day in October. Most of this production came from the Firebag site, which is very important for Suncor Energy Inc. (NYSE:SU). Firebag will help the company in the future, especially when one of their other oil sands mines closes next year and they lose 30% of their output.

With capital expenditures expected to stay below $6 billion through 2026, Suncor Energy Inc. (NYSE:SU) is on track to surpass its $3.3 billion incremental free funds flow target by that year. By 2026, the company hopes to achieve $10 per barrel improvements and anticipates free funds flow to surpass $6.3 billion. These recent developments demonstrate Suncor Energy’s dedication to operational effectiveness and shareholder value.