Suncor Energy (TSE:SU) Hits New 1-Year High – Still a Buy?

Shares of Suncor Energy Inc. (TSE:SU) (NYSE:SU) reached a new 52-week high during trading on Thursday . The company traded as high as C$97.13 and last traded at C$95.88, with a volume of 345829 shares traded. The stock had previously closed at C$95.29.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SU. Raymond James Financial increased their price objective on shares of Suncor Energy from C$103.00 to C$109.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Desjardins set a C$107.00 target price on Suncor Energy and gave the stock a “buy” rating in a report on Friday, July 17th. Scotiabank raised Suncor Energy to a “strong-buy” rating in a report on Friday, June 26th. The Goldman Sachs Group downgraded Suncor Energy from a “buy” rating to a “hold” rating in a research report on Friday, June 5th. Finally, Gerdes Energy Research lowered Suncor Energy from a “buy” rating to a “neutral” rating and increased their price target for the company from C$96.00 to C$97.00 in a research note on Wednesday, July 22nd. One 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 MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$97.69.

Suncor Energy Trading Down 0.6%

The company has a quick ratio of 0.83, a current ratio of 1.65 and a debt-to-equity ratio of 30.48. The firm’s 50-day simple moving average is C$89.63 and its 200 day simple moving average is C$87.10. The stock has a market capitalization of C$110.82 billion, a P/E ratio of 12.65, a PEG ratio of 0.15 and a beta of 0.19.

Suncor Energy (TSE:SU) (NYSE:SU) last posted its quarterly earnings data on Tuesday, August 4th. The company reported C$3.23 earnings per share 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 Inc. will post 4.4208333 EPS for the current fiscal year.

Suncor Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 25th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $2.40 annualized dividend and a yield of 2.5%. Suncor Energy’s dividend payout ratio is currently 31.64%.

Insider Buying and Selling at Suncor Energy

In other news, insider Richard Michael Kruger sold 15,378 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of C$94.84, for a total transaction of C$1,458,449.52. Also, insider Adam Husain Albeldawi sold 1,173 shares of the firm’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of C$95.01, for a total value of C$111,446.73. Over the last three months, insiders have sold 60,862 shares of company stock valued at $5,466,972. 0.01% of the stock is currently owned by corporate insiders.

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.