Suncor Energy (TSE:SU) Issues Quarterly Earnings Results

Suncor Energy (TSE:SU) (NYSE:SU) posted its quarterly earnings results on Tuesday. The company reported C$3.97 earnings per share (EPS) for the quarter, FiscalAI reports. Suncor Energy had a net margin of 17.22% and a return on equity of 23.57%. The firm had revenue of C$18.88 billion for the quarter.

Suncor Energy Price Performance

Shares of TSE:SU opened at C$100.84 on Thursday. The company has a market cap of C$117.95 billion, a PE ratio of 13.46, a P/E/G ratio of 0.15 and a beta of 0.18. Suncor Energy has a fifty-two week low of C$57.35 and a fifty-two week high of C$112.80. The firm has a 50-day simple moving average of C$100.35 and a 200 day simple moving average of C$88.45. The company has a quick ratio of 0.83, a current ratio of 1.71 and a debt-to-equity ratio of 10.56.

Suncor Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 25th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Friday, September 4th. Suncor Energy’s dividend payout ratio is currently 31.64%.

Analyst Ratings Changes

Several research analysts have weighed in on SU shares. ATB Cormark Capital Markets raised their price objective on shares of Suncor Energy from C$100.00 to C$125.00 and gave the stock an “outperform” rating in a report on Thursday, October 22nd. Raymond James Financial upped their target price on shares of Suncor Energy from C$109.00 to C$118.00 and gave the company an “outperform” rating in a research note on Wednesday, September 16th. Royal Bank Of Canada increased their price target on shares of Suncor Energy from C$100.00 to C$110.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 13th. JPMorgan Chase & Co. increased their price target on shares of Suncor Energy from C$107.00 to C$114.00 in a research report on Thursday, August 13th. Finally, TD lifted their price target on Suncor Energy from C$113.00 to C$116.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$105.60.

Insider Transactions at Suncor Energy

In other Suncor Energy news, insider Curtis Wade Serra sold 2,400 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of C$94.03, for a total value of C$225,672.00. Also, insider Peter Douglas Zebedee sold 5,000 shares of Suncor Energy stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of C$98.00, for a total value of C$490,000.00. Insiders have sold a total of 79,792 shares of company stock valued at $7,294,928 over the last ninety days. Insiders own 0.01% of the company’s stock.

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.