Suncor Energy Inc. (NYSE:SU)‘s stock had its “overweight” rating reissued by Barclays PLC in a research report issued to clients and investors on Monday. They presently have a $50.00 price target on the stock, up from their prior price target of $48.00. Barclays PLC’s target price indicates a potential upside of 76.06% from the company’s previous close.
Several other research firms have also weighed in on SU. Scotiabank reissued an “outperform” rating and issued a $37.00 target price on shares of Suncor Energy in a research note on Saturday, June 25th. Zacks Investment Research raised Suncor Energy from a “sell” rating to a “hold” rating in a research note on Friday, June 24th. TD Securities reissued a “buy” rating and issued a $41.00 target price on shares of Suncor Energy in a research note on Thursday, July 28th. RBC Capital Markets reissued an “outperform” rating and issued a $42.00 target price on shares of Suncor Energy in a research note on Sunday, October 2nd. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $51.00 target price on shares of Suncor Energy in a research note on Saturday, June 25th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $39.16.
Shares of Suncor Energy (NYSE:SU) traded up 2.31% during midday trading on Monday, hitting $28.40. The stock had a trading volume of 3,150,704 shares. The company’s market capitalization is $47.27 billion. The firm’s 50-day moving average is $27.19 and its 200 day moving average is $27.38. Suncor Energy has a one year low of $18.71 and a one year high of $30.70.
Suncor Energy (NYSE:SU) last issued 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 net margin of 11.29% and a negative return on equity of 1.59%. During the same period last year, the business posted $0.63 EPS. Equities analysts expect that Suncor Energy will post ($0.35) earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 26th. Investors of record on Tuesday, September 6th were issued a dividend of $0.2194 per share. The ex-dividend date was Thursday, September 1st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.09%. Suncor Energy’s payout ratio is presently -60.54%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Cohen & Steers Inc. increased its position in Suncor Energy by 25,557.6% in the second quarter. Cohen & Steers Inc. now owns 13,218,799 shares of the company’s stock worth $158,463,000 after buying an additional 13,167,279 shares in the last quarter. Capital Research Global Investors increased its position in Suncor Energy by 12.9% in the second quarter. Capital Research Global Investors now owns 70,432,422 shares of the company’s stock worth $1,953,867,000 after buying an additional 8,049,944 shares in the last quarter. Burgundy Asset Management Ltd. bought a new position in Suncor Energy during the first quarter worth $212,274,000. FMR LLC increased its position in Suncor Energy by 8.8% in the second quarter. FMR LLC now owns 88,848,770 shares of the company’s stock worth $2,464,755,000 after buying an additional 7,159,007 shares in the last quarter. Finally, BlackRock Advisors LLC increased its position in Suncor Energy by 292.1% in the second quarter. BlackRock Advisors LLC now owns 8,889,630 shares of the company’s stock worth $246,509,000 after buying an additional 6,622,549 shares in the last quarter. Institutional investors and hedge funds own 64.08% of the company’s stock.
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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