$SU.TO

E3 Lithium Names Tom Gear as Chief Operating Officer; Chief Development Officer Kevin Carroll to Retire

E3 Lithium (ETL.V) announced Wednesday the appointment of Tom Gear as chief operating officer, effective June 8, 2026, and the retirement of Kevin Carroll, chief development officer.Tom Gear is an energy executive with nearly three decades of experience spanning petroleum refining, major projects, commodity trading, commercial development, and large-scale oil sands operations, said the company.Most recently, he held the role of Senior Vice President Oilsands at MEG Energy. Prior to MEG Energy, Tom spent 24 years at Suncor and legacy Petro-Canada, including serving as Vice President, Environment, Health & Safety."A Governor General's Canadian Leadership Conference alumnus and former Board Chair of the Fort McMurray Chamber of Commerce, Tom brings national leadership perspective alongside deep operational expertise," said the company.Kevin Carroll's last day will be June 12, 2026, said the company and added that he will remain with the company in an advisory capacity during a transition period to ensure a "smooth handover" of responsibilities."After an extensive search, we are very pleased to welcome Tom to the executive team as Chief Operating Officer," said Chris Doornbos, Chief Executive Officer and Chair of E3. "His extensive experience leading large-scale industrial operations, driving organizational excellence, and developing high-performing teams will be invaluable as we move closer to construction and operations of the Clearwater Project. On behalf of the Board of Directors and the entire Company, I want to thank Kevin for his outstanding contributions. Kevin has played a key role in advancing the Clearwater Project and helping establish the strong technical and operational foundation from which we will grow."

RBC Retains Suncor Energy's Outperform Rating, C$100 Price Target

RBC Capital Markets on Tuesday kept Suncor Energy's (SU.TO) outperform rating and C$100 price target.RBC's recent update with Suncor executives including Chief Financial Officer Troy Little reinforced the bank's confidence in the company's ability to unlock higher sustainable operating/financial performance across the organization."We believe that Suncor should command a premium valuation vis-a-vis our peer group given its shareholder alignment, physical integration, abundant resource base, impressive upstream-downstream operating performance, free cash flow generation, solid balance sheet, attractive shareholder returns and well-defined plans to address its base mine depletion in the coming years," RBC said.Suncor remains RBC's favorite integrated company in Canada and is part of RBC's Global Energy Best Ideas list.Suncor traded at $90.96 per share at last look on the Toronto Stock Exchange.Price: $90.80, Change: $+0.53, Percent Change: +0.59%

Market Chatter: Oil Sands Firms Can Afford Carbon Capture, Canadian Energy Minister Says

Canadian Energy Minister Tim Hodgson said he's "highly confident" that Alberta oil sands companies can absorb the cost of building carbon capture, despite their protests that Canada's climate rules hurt their global competitiveness, Bloomberg is reporting Monday.It noted Prime Minister Mark Carney's government reached an agreement earlier this month with Alberta on the trajectory of its industrial carbon price, a regime that forces heavy polluters to pay for carbon emissions but also generates credits for cutting greenhouse gas outflows.The deal was a crucial step toward building the C$16.5 billion ($12 billion) Pathways carbon capture project for the oil sands, which Carney has said is a necessary condition for approving a new crude oil pipeline to Canada's Pacific coast. As the negotiations unfolded in recent months, however, oil companies began publicly arguing that the carbon price imposes a cost on the Canadian industry that other major oil producers don't bear.In Hodgson's view, those companies were mainly protesting that they weren't directly at the table for the talks, he told Bloomberg in an interview."The reality is the federal government and the provincial government had to agree on what the framework for carbon pricing was before we got them to the table," he said. "Now that that's been done, the engagement will happen. I am highly confident that given how we've structured this, that the cost of Pathways can be readily absorbed."The project spearheaded by five of the largest oil sands companies, including Cenovus Energy Inc. (SU.TO), Imperial Oil Ltd. (IMO.TO) and Suncor Energy Inc. (SU.TO), would capture carbon dioxide from multiple facilities and transport it more than 400 kilometers (249 miles) by pipeline to a storage hub in eastern Alberta, where it would be stored underground.The new agreement targets 16 million metric tons of annual emissions reductions from Pathways -- but gradually over the next two decades. The first phase, to be completed by 2035, would build enough carbon capture to remove 6 million metric tons annually. Hodgson said the hope is that technology will have substantially advanced by then, opening up more choices."I think you're going to see a bunch of new technologies that are going to get cheaper and cheaper and cheaper, and that's going to create options for the Pathways folks," Hodgson said.(Market Chatter news is derived from conversations with market professionals globally, and/or from other media sources. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

RBC Maintains Suncor Energy's Outperform Rating, C$100 Price Target

RBC Capital Markets on Wednesday reiterated Suncor Energy's (SU.TO) outperform rating and C$100 price target, with the bank noting the company delivered another quarter of "robust performance" punctuated by a "jumbo-sized" downstream pre-tax margin of $2 billion (including FIFO gains) in part driven by record refined product sales of 680,900 bbl/d.RBC's updated production outlook of 862,100 bbl/d, anchored by a $5.7 billion capital program, remains relatively unchanged."Suncor's first-quarter results reinforced our confidence that its culture of sustained high performance is taking deep root and enabling the company to be on the podium, come what may," RBC said. "We believe the ingredients are in place for the company to earn a premium relative valuation, conceivably over the next year," RBC added.Suncor is RBC's favorite integrated producer in Canada and is part of its Global Energy Best Ideas list.Suncor traded at $85.70 per share at last look Thursday on the Toronto Stock Exchange.Price: $85.70, Change: $-2.21, Percent Change: -2.51%

Suncor Energy Maintained at Buy at TPH Following Q1 Results; Price Target at C$105.00

Tudor, Pickering, Holt on Wednesday maintained its buy rating on the shares of Suncor Energy (SU.TO, SU) with a C$105.00 price target following first-quarter results from the oil producer and refiner."Suncor posted Q1 beats across the board, with downstream throughput/product sales primarily driving better AFFO vs. consensus, with better-than-expected capex further supporting a clean FCF beat. Headline Q1 metrics included beats on AFFO/shr (C$3.39 vs. TPHe/Street C$3.34/3.29) and capex (C$1.08B excl. capitalized interest vs. TPHe/Street C$1.19B/1.22B), which together drove the beat on FCF (C$2.91B vs. TPHe/Street C$2.76B/$2.69B). The beat vs. our model on AFFO owed mainly to much greater Downstream performance with 498mbpd throughput coming in well north of TPHe/Street 477/472, representing 97% utilization on the newly rerated 511mbpd nameplate capacity; C$1.98B AFFO was slightly above TPHe C$1.87B but well north of Street C$1.61B. On Upstream ops, 875mbopd came in modestly below our model but also well above Street, comparing to TPHe/Street 880/868, with the delta vs. TPHe driven by Oil Sands production of 799mbopd vs. TPHe 805, with Syncrude maintenance offsetting record Fort Hills; C$2.89B AFFO vs. TPHe/Street C$2.94B/C$2.83B. E&P was in-line on volumes vs. our model but again well north of Street, at 76mbopd vs. TPHe/Street 75/62; C$0.56B AFFO vs. TPHe/Street $0.41B/C$0.35B," analyst Jeoffrey Lambujon wrote.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $88.79, Change: $-6.26, Percent Change: -6.59%

RBC Maintains Suncor's Outperform Rating, C$100 Price Target After Q1 Results

RBC Capital Markets on Tuesday retained Suncor Energy's (SU.TO) outperform rating and C$100 price target following the release of the company's first-quarter results.Suncor's operating earnings of $1.93 per share missed RBC's forecast of $2.01 per share but matched the Street estimate.Adjusted funds from operations of $3.39 per share exceeded RBC's projection of $3.32 per share and the Street estimate of $3.29 per share.Suncor reported total production of 875,000 barrels per day (bbl/d), compared to the RBC estimate of 860,000 bbl/d and the Street forecast of 868,000 bbl/d.The company's capital spending of $1.08 billion was below RBC and Street estimates of $1.22 billion.Suncor remained RBC's favorite integrated producer and is part of RBC's Global Energy Best Ideas list.Suncor traded at $89.57 per share at last look Wednesday on the Toronto Stock Exchange.Price: $89.68, Change: $-5.37, Percent Change: -5.65%

Earnings Flash (SU.TO) Suncor Energy Posts Q1 Adjusted EPS C$1.93 per Share, vs. $1.31 a Year Earlier

Suncor Energy Maintained at Outperformer at CIBC Ahead of Q1 Results; Price Target at C$110.00

CIBC Capital Markets on Monday reiterated its outperformer rating on the shares of Suncor Energy (SU.TO, SU) and its C$110.00 price target ahead of the May 5 release of the oil producer and refiner's first-quarter results."We estimate Q1/26 production of 862 MBoe/d and CFPS of $3.23, vs. consensus of 868 MBoe/d and $3.29, respectively. We expect the impact from the natural gas outage on oil sands production to be largely offset by the company's ability to transfer barrels between assets. On the downstream side, we expect the company to continue showing strong market capture, with FIFO/LIFO gains of at least $500 million. The company repurchased $823 million of shares during Q1/26, and we expect full-year share buybacks to be approximately $4 billion. The company hosted an Investor Day focusing on growth of 100 MBbl/d by 2028, a decrease of the WTI dividend breakeven to US$38, and prudent capital allocation including increased FCF generation and returns to shareholders," the investment bank noted.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $92.33, Change: $+0.50, Percent Change: +0.54%

RBC Keeps Suncor Energy's Outperform Rating, C$100 Price Target

RBC Capital Markets on Friday maintained Suncor Energy's (SU.TO) outperform rating and C$100 price target ahead of the May 6 release of the company's first-quarter results.RBC estimated Suncor's operating earnings at $2.01 per share, compared to the Street estimate of $1.93. RBC's adjusted funds from operations projection of $3.32 per share was in line with the Street forecast of $3.29 per share.RBC forecast Suncor's capital spending at $1.22 billion, matching the Street forecast, while RBC's estimated production of 860,000 barrels per day (bbl/d) was below the Street projection of 868,000 bbl/d.Suncor remains RBC's favorite integrated producer and is part of RBC's Global Energy Best Ideas List.Suncor traded at $87.84 per share at last look Monday on the Toronto Stock Exchange.Price: $87.73, Change: $+0.17, Percent Change: +0.19%

Suncor Energy Maintained at Buy at TPH Ahead of Q1 Results; Price Target at C$105.00

Tudor, Pickering, Holt on Tuesday maintained its buy rating on the shares of Suncor Energy (SU.TO, SU) with a C$105.00 price target ahead of first-quarter results from the oil producer and refiner."Updating our model took our Q1'26 CFPS estimate higher to C$3.34 vs. prior TPHe/Street C$2.47/C$3.23, with markto-market factors the primary driver, more than offsetting moving pieces on ops (mainly Upstream production). At the segment level and in the context of total AFFO of TPHe C$3.95B, the key components of our build-up include TPHe C$2.94B for oil sands (TPHe 805mbopd in-line with Street, down vs. our prior 821 on sector-wide NGTL impacts and the early Feb coker outage which the company maximized in terms of elected maintenance work), C$423MM for E&P (TPHe 75mboepd production vs. prior TPHe/Street of ~60/~58 the driver of the delta in our overall production outlook), and TPHe C$1.87B (TPHe 477mbopd throughput vs. prior TPHe/Street 461/475)," analyst Jeoffrey Lambujon noted.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

CIBC Picks Cenovus, Kelt, Suncor, Tamarack, Tenaz, Whitecap as Its Top Ideas for Canadian Oil Equities

CIBC Capital Markets said Friday its top ideas for Canadian oil equities in the first quarter include Cenovus Energy (CVE.TO), Kelt Exploration (KEL.TO), Suncor Energy (SU.TO), Tamarack Valley Energy (TVE.TO), Tenaz Energy (TNZ.TO) and Whitecap Resources (WCP.TO).CIBC said Canadian oil equities showed strong performance in the first quarter, driven by geopolitical conflict in the Middle East.Oil prices and U.S Gulf Coast crack spreads increased by 78% and 200% during the quarter, respectively, helping improve realizations for liquids-focused producers and integrated companies, CIBC said.Due to the oil price spike, CIBC expects meaningful tailwinds for Suncor and Cenovus, while Imperial Oil (IMO.TO) could face a headwind.Higher oil prices could also drive working capital adjustments, which could increase net debt levels for the integrateds, CIBC added.CIBC said Canadian LNG projects look increasingly attractive for supply security amid the Middle East conflict. As a result, CIBC expects the LNG Canada Phase 2 and Ksi Lisims LNG projects to be sanctioned in 2026.Price: $84.28, Change: $+0.59, Percent Change: +0.70%