Wells Fargo & Company Increases Suncor Energy (TSE:SU) Price Target to C$60.00

Suncor Energy (TSE:SU) (NYSE:SU) had its price objective increased by research analysts at Wells Fargo & Company from C$55.00 to C$60.00 in a note issued to investors on Thursday, BayStreet.CA reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 14.64% from the stock’s current price.

A number of other analysts also recently commented on the company. TD Securities upped their target price on Suncor Energy from C$46.00 to C$48.00 and gave the stock a “hold” rating in a research note on Thursday, February 22nd. National Bankshares lowered their price objective on Suncor Energy from C$74.00 to C$57.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 10th. Royal Bank of Canada raised their price objective on shares of Suncor Energy from C$52.00 to C$58.00 in a research note on Tuesday, April 9th. Jefferies Financial Group boosted their target price on shares of Suncor Energy from C$50.00 to C$53.00 and gave the company a “hold” rating in a research note on Friday, April 12th. Finally, BMO Capital Markets lifted their price objective on shares of Suncor Energy from C$52.00 to C$55.00 in a report on Thursday, March 28th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of C$55.42.

Suncor Energy Stock Performance

SU traded up C$0.16 during trading on Thursday, reaching C$52.34. 1,503,808 shares of the company’s stock were exchanged, compared to its average volume of 8,083,769. The company’s fifty day simple moving average is C$48.14 and its 200-day simple moving average is C$45.55. The stock has a market capitalization of C$67.52 billion, a P/E ratio of 8.27, a price-to-earnings-growth ratio of 0.15 and a beta of 1.52. The company has a debt-to-equity ratio of 36.52, a current ratio of 1.44 and a quick ratio of 0.83. Suncor Energy has a 1 year low of C$37.09 and a 1 year high of C$53.78.

Suncor Energy (TSE:SU) (NYSE:SU) last issued its earnings results on Wednesday, February 21st. The company reported C$1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of C$1.05 by C$0.21. Suncor Energy had a net margin of 16.90% and a return on equity of 20.07%. The firm had revenue of C$14.14 billion during the quarter, compared to analysts’ expectations of C$11.33 billion. As a group, research analysts predict that Suncor Energy will post 4.7415525 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Senior Officer Jacqueline Sue Moore sold 12,000 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of C$45.83, for a total transaction of C$549,960.00. In other Suncor Energy news, Senior Officer Jacqueline Sue Moore sold 12,000 shares of Suncor Energy stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of C$45.83, for a total transaction of C$549,960.00. Also, Senior Officer Shelley Powell sold 16,400 shares of Suncor Energy stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of C$45.84, for a total value of C$751,776.00. 0.01% of the stock is currently owned by corporate insiders.

Suncor Energy Company Profile

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.