Suncor Energy (TSE:SU) Hits New 12-Month High Following Analyst Upgrade

Suncor Energy Inc. (TSE:SU) (NYSE:SU) hit a new 52-week high during trading on Friday after Royal Bank Of Canada raised their price target on the stock from C$67.00 to C$70.00. Royal Bank Of Canada currently has an outperform rating on the stock. Suncor Energy traded as high as C$64.93 and last traded at C$64.84, with a volume of 1417020 shares traded. The stock had previously closed at C$63.33.

Several other analysts have also commented on the stock. Wells Fargo & Company set a C$57.00 price target on shares of Suncor Energy and gave the company an “equal weight” rating in a research report on Friday, October 17th. CIBC increased their target price on shares of Suncor Energy from C$65.00 to C$70.00 in a research note on Thursday, November 27th. Gerdes Energy Research lifted their price target on Suncor Energy from C$75.00 to C$78.00 in a research note on Monday, November 10th. JPMorgan Chase & Co. upped their price target on Suncor Energy from C$59.00 to C$64.00 in a report on Thursday, November 6th. Finally, Raymond James Financial raised their price objective on Suncor Energy from C$70.00 to C$75.00 and gave the company an “outperform” rating in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$67.62.

Insider Buying and Selling at Suncor Energy

In related news, insider Kristopher Peter Smith sold 112,600 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of C$61.74, for a total transaction of C$6,951,924.00. Following the completion of the sale, the insider directly owned 48,482 shares in the company, valued at approximately C$2,993,278.68. The trade was a 69.90% decrease in their ownership of the stock. Also, insider Troy Ward Little sold 8,711 shares of the stock in a transaction on Monday, November 17th. The shares were sold at an average price of C$62.61, for a total value of C$545,395.71. Insiders sold 164,675 shares of company stock valued at $10,208,871 over the last quarter. 0.01% of the stock is currently owned by insiders.

Suncor Energy Trading Up 2.7%

The stock has a market capitalization of C$78.13 billion, a PE ratio of 15.16, a P/E/G ratio of 0.15 and a beta of 0.79. The company has a debt-to-equity ratio of 33.35, a current ratio of 1.59 and a quick ratio of 0.83. The company’s 50 day moving average price is C$60.78 and its two-hundred day moving average price is C$57.11.

Suncor Energy (TSE:SU) (NYSE:SU) last released its earnings results on Tuesday, November 4th. The company reported C$1.48 earnings per share for the quarter. The business had revenue of C$12.55 billion for the quarter. Suncor Energy had a net margin of 15.15% and a return on equity of 18.10%. As a group, analysts expect that Suncor Energy Inc. will post 4.4208333 earnings per share for the current year.

Suncor Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 24th. Shareholders of record on Wednesday, December 24th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.7%. This is an increase from Suncor Energy’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Wednesday, December 3rd. Suncor Energy’s dividend payout ratio is presently 53.15%.

About Suncor Energy

Suncor Energy Inc is an integrated energy company. The company’s operations include oil sands development, production and upgrading, offshore oil and gas, petroleum refining in Canada and the U.S. and the company’s PetroCanada retail and wholesale distribution networks. The company is developing petroleum resources while advancing the transition to a low-emissions future through investment in power, renewable fuels and hydrogen. It also conducts energy trading activities focused principally on the marketing and trading of crude oil, natural gas, byproducts, refined products and power.