Somewhat Positive Press Coverage Somewhat Unlikely to Affect Suncor Energy (NYSE:SU) Stock Price
Media coverage about Suncor Energy (NYSE:SU) (TSE:SU) has been trending somewhat positive this week, Accern reports. The research group scores the sentiment of news coverage by monitoring more than 20 million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Suncor Energy earned a coverage optimism score of 0.16 on Accern’s scale. Accern also gave headlines about the oil and gas producer an impact score of 46.0408459109019 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.
Suncor Energy (NYSE:SU) traded down 0.33% during trading on Wednesday, hitting $32.77. 2,342,703 shares of the company traded hands. The stock has a market capitalization of $54.38 billion, a PE ratio of 25.44 and a beta of 0.82. The company’s 50 day moving average is $29.88 and its 200-day moving average is $30.87. Suncor Energy has a 52 week low of $25.70 and a 52 week high of $33.79.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 25th. Investors of record on Tuesday, September 5th will be paid a dividend of $0.2552 per share. This is an increase from Suncor Energy ‘s previous quarterly dividend of $0.24. The ex-dividend date is Thursday, August 31st. This represents a $1.02 dividend on an annualized basis and a yield of 3.11%. Suncor Energy ‘s dividend payout ratio is presently 77.87%.
Suncor Energy announced that its board has initiated a share buyback plan on Wednesday, April 26th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the oil and gas producer to reacquire up to 3.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
Several analysts have issued reports on the stock. Scotiabank cut shares of Suncor Energy from an “outperform” rating to a “sector perform” rating in a research note on Friday, June 9th. Citigroup Inc. reiterated a “buy” rating on shares of Suncor Energy in a research note on Wednesday, August 2nd. Piper Jaffray Companies lowered their target price on shares of Suncor Energy from $40.00 to $38.00 and set an “overweight” rating on the stock in a research note on Monday, July 3rd. Zacks Investment Research cut shares of Suncor Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Finally, BidaskClub upgraded shares of Suncor Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Five investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $42.10.
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About Suncor Energy
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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