CIBC Raises Suncor Energy Inc. (SU) Price Target to C$55.00
Other equities research analysts also recently issued reports about the company. Royal Bank Of Canada upped their target price on Suncor Energy from C$47.00 to C$48.00 in a report on Thursday. BMO Capital Markets upped their target price on Suncor Energy from C$50.00 to C$52.00 in a report on Thursday. GMP Securities upped their target price on Suncor Energy from C$42.00 to C$43.00 in a report on Thursday. Barclays PLC upped their target price on Suncor Energy from C$49.00 to C$50.00 in a report on Friday, October 27th. Finally, J P Morgan Chase & Co upped their target price on Suncor Energy from C$39.00 to C$42.00 in a report on Thursday, September 14th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of C$48.92.
Shares of Suncor Energy (TSE SU) opened at C$45.21 on Thursday. Suncor Energy has a fifty-two week low of C$36.09 and a fifty-two week high of C$46.66.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 22nd. Investors of record on Friday, December 1st will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 2.83%. The ex-dividend date is Thursday, November 30th. Suncor Energy’s payout ratio is 57.87%.
In related news, insider Mark Stephen Little sold 1,000 shares of the company’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of C$45.51, for a total transaction of C$45,510.00. Also, Director Jacynthe Cote purchased 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 19th. The shares were acquired at an average cost of C$41.78 per share, for a total transaction of C$83,560.00. Over the last three months, insiders have purchased 3,539 shares of company stock worth $146,553 and have sold 76,100 shares worth $3,440,074.
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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