The stock had a trading volume of 1,743,517 shares.
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Canadian Oil Sands has indicated more than two potential suitors expressed interest in making a bid, including four ” highly credible parties”. The firm’s 50 day moving average price is $28.53 and its 200 day moving average price is $27.72. The company has a market cap of $39.78 billion.
PBF Energy (NYSE:PBF) last released its quarterly earnings results on Thursday, October 29th. The energy company reported ($0.34) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by $0.05.
The company shares have dropped 92.77% in the past 52 Weeks.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 24th. This represents a dividend yield of 0.31%. The ex-dividend date is Monday, November 30th.
Several equities analysts have commented on SU shares. Raymond James restated an outperform rating and set a $43.00 price target (up from $42.00) on shares of Suncor Energy in a research note on Thursday, November 19th. The higher and the lower price estimates are $ 70 and $38 respectively. Deutsche Bank decreased their price objective on PBF Energy from $41.00 to $40.00 and set a “hold” rating for the company in a report on Tuesday, November 10th. The current rating of the shares is Market Perform, according to the research report released by the firm. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock.
Suncor seeks to consolidate its position in the Syncrude joint venture by taking over Canadian Oil Sands’ 36.7% stake.
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As a Canadian company, Suncor doesn’t face a review by federal regulators under the Investment Canada Act, which only applies to foreign investors. PBF owns and operates three domestic oil refineries and related assets with a combined processing capacity, known as throughput, of approximately 540,000bpd, and a weighted average Nelson Complexity Index of 11.3. “Our board will continue to pursue full and fair value for all shareholders now that the decision by the Alberta Securities Commission has levelled the playing field between Suncor and other interested parties”. The Company also conducts energy trading activities focused principally on the marketing and trading of crude oil and byproducts.
