Suncor Energy Inc. (NYSE:SU)‘s stock had its “outperform” rating reiterated by research analysts at RBC Capital Markets in a research note issued to investors on Sunday. They currently have a $42.00 price target on the stock. RBC Capital Markets’ target price suggests a potential upside of 51.19% from the stock’s current price.
Several other research firms have also issued reports on SU. Bank of America Corp. assumed coverage on Suncor Energy in a research report on Friday, August 19th. They issued a “buy” rating and a $33.00 price target for the company. Vetr downgraded Suncor Energy from a “strong-buy” rating to a “buy” rating and set a $31.93 price objective for the company. in a report on Tuesday, June 7th. Zacks Investment Research upgraded Suncor Energy from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a report on Wednesday, July 13th. Simmons reduced their price objective on Suncor Energy from $40.00 to $39.00 and set an “overweight” rating for the company in a report on Tuesday, July 5th. Finally, Raymond James Financial Inc. reiterated an “outperform” rating and issued a $42.00 price objective (down from $43.00) on shares of Suncor Energy in a report on Thursday, June 9th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $38.44.
Shares of Suncor Energy (NYSE:SU) opened at 27.78 on Friday. Suncor Energy has a one year low of $18.71 and a one year high of $30.70. The stock’s market capitalization is $46.24 billion. The stock has a 50 day moving average of $27.28 and a 200-day moving average of $27.37.
Suncor Energy (NYSE:SU) last posted its quarterly earnings results on Wednesday, July 27th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by $0.15. Suncor Energy had a negative return on equity of 1.59% and a negative net margin of 11.29%. During the same period in the previous year, the business posted $0.63 earnings per share. Equities analysts forecast that Suncor Energy will post ($0.34) earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 26th. Investors of record on Tuesday, September 6th were issued a $0.2194 dividend. The ex-dividend date of this dividend was Thursday, September 1st. This represents a $0.88 dividend on an annualized basis and a yield of 3.16%. Suncor Energy’s dividend payout ratio is presently -60.54%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Japan Co. Ltd acquired a new position in Suncor Energy during the second quarter worth approximately $108,000. Glenmede Trust Co. NA boosted its position in Suncor Energy by 9.8% in the second quarter. Glenmede Trust Co. NA now owns 4,898 shares of the company’s stock worth $135,000 after buying an additional 437 shares in the last quarter. Ropes Wealth Advisors LLC boosted its position in Suncor Energy by 15.6% in the first quarter. Ropes Wealth Advisors LLC now owns 6,088 shares of the company’s stock worth $169,000 after buying an additional 820 shares in the last quarter. IFP Advisors Inc boosted its position in Suncor Energy by 29.2% in the first quarter. IFP Advisors Inc now owns 6,470 shares of the company’s stock worth $180,000 after buying an additional 1,462 shares in the last quarter. Finally, Checchi Capital Advisers LLC boosted its position in Suncor Energy by 5.8% in the second quarter. Checchi Capital Advisers LLC now owns 6,801 shares of the company’s stock worth $189,000 after buying an additional 372 shares in the last quarter. 64.08% of the stock is currently owned by institutional investors.
Suncor Energy Company Profile
Suncor Energy Inc (Suncor) is an integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.
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