Suncor Energy Inc. (SU) Shares Gap Up to $28.25
Suncor Energy Inc. (NYSE:SU) gapped up prior to trading on Thursday . The stock had previously closed at $28.11, but opened at $28.25. Suncor Energy shares last traded at $28.72, with a volume of 1,548,632 shares traded.
Several research analysts recently commented on SU shares. Scotiabank reaffirmed an “outperform” rating and issued a $38.00 price objective on shares of Suncor Energy in a report on Sunday, July 31st. Bank of America Corp. initiated coverage on shares of Suncor Energy in a report on Friday. They issued a “buy” rating on the stock. Simmons dropped their price objective on shares of Suncor Energy from $40.00 to $39.00 and set an “overweight” rating on the stock in a report on Tuesday, July 5th. Zacks Investment Research downgraded shares of Suncor Energy from a “buy” rating to a “hold” rating in a report on Monday, August 8th. Finally, Vetr raised shares of Suncor Energy from a “hold” rating to a “buy” rating and set a $29.87 price objective on the stock in a report on Monday, April 25th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Suncor Energy presently has an average rating of “Buy” and an average price target of $38.59.
The company’s 50-day moving average is $27.53 and its 200-day moving average is $26.74. The firm’s market capitalization is $47.32 billion.
Suncor Energy (NYSE:SU) last released its earnings results on Wednesday, July 27th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.21) by $0.15. During the same quarter in the prior year, the firm posted $0.63 EPS. On average, equities research analysts expect that Suncor Energy Inc. will post ($0.36) EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 26th. Stockholders of record on Tuesday, September 6th will be paid a dividend of $0.2194 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date is Thursday, September 1st.
A number of institutional investors recently added to or reduced their stakes in the company. Trexquant Investment LP bought a new position in Suncor Energy during the fourth quarter worth $1,135,000. I.G. Investment Management LTD. boosted its position in Suncor Energy by 5.7% in the fourth quarter. I.G. Investment Management LTD. now owns 6,780,797 shares of the company’s stock worth $175,135,000 after buying an additional 363,655 shares in the last quarter. Finally, Westfield Capital Management Co. LP bought a new position in Suncor Energy during the fourth quarter worth $99,722,000.
Suncor Energy Inc (Suncor) is an integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.
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