Suncor Energy (TSE:SU) Price Target Raised to C$110.00

Suncor Energy (TSE:SU) (NYSE:SU) had its price objective upped by ATB Cormark Capital Markets from C$108.00 to C$110.00 in a research report released on Tuesday,BayStreet reports. ATB Cormark Capital Markets currently has an outperform rating on the stock.

Several other research analysts have also weighed in on the company. Raymond James Financial lifted their target price on Suncor Energy from C$109.00 to C$118.00 and gave the stock an “outperform” rating in a report on Wednesday, September 16th. National Bank Financial raised their price target on Suncor Energy from C$118.00 to C$146.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 30th. Gerdes Energy Research lowered Suncor Energy from a “buy” rating to a “neutral” rating and raised their price target for the stock from C$96.00 to C$97.00 in a research report on Wednesday, July 22nd. TD lifted their price objective on Suncor Energy from C$113.00 to C$116.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. boosted their price objective on Suncor Energy from C$107.00 to C$114.00 in a research report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Suncor Energy has a consensus rating of “Moderate Buy” and an average price target of C$100.94.

Suncor Energy Trading Up 3.7%

SU opened at C$100.89 on Tuesday. The firm’s fifty day moving average is C$93.98 and its two-hundred day moving average is C$89.63. The company has a debt-to-equity ratio of 30.48, a quick ratio of 0.83 and a current ratio of 1.65. The firm has a market cap of C$118.00 billion, a PE ratio of 13.47, a price-to-earnings-growth ratio of 0.15 and a beta of 0.18. Suncor Energy has a twelve month low of C$53.02 and a twelve month high of C$101.45.

Suncor Energy (TSE:SU) (NYSE:SU) last announced its quarterly earnings results on Tuesday, August 4th. The company reported C$3.23 earnings per share (EPS) for the quarter. Suncor Energy had a net margin of 15.32% and a return on equity of 19.38%. The company had revenue of C$17.50 billion during the quarter. Equities research analysts anticipate that Suncor Energy will post 4.4208333 EPS for the current year.

Suncor Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 25th were paid a $0.60 dividend. The ex-dividend date was Friday, September 4th. This represents a $2.40 annualized dividend and a yield of 2.4%. Suncor Energy’s payout ratio is presently 31.64%.

Insider Activity

In other news, insider Shelley Powell sold 41,911 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of C$87.60, for a total transaction of C$3,671,403.60. Following the completion of the transaction, the insider directly owned 27,705 shares of the company’s stock, valued at C$2,426,958. This trade represents a 60.20% decrease in their position. Also, insider Curtis Wade Serra sold 2,400 shares of Suncor Energy stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of C$94.03, for a total transaction of C$225,672.00. Over the last quarter, insiders have sold 79,792 shares of company stock worth $7,294,928. 0.01% of the stock is currently owned by insiders.

Suncor Energy Company Profile

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.