Suncor Energy (SU) Lifted to “Outperform” at CSFB
CSFB upgraded shares of Suncor Energy (TSE:SU) (NYSE:SU) from a neutral rating to an outperform rating in a research note published on Thursday morning. The firm currently has C$52.00 target price on the stock, up from their previous target price of C$48.00.
Other equities analysts have also issued research reports about the company. CIBC reduced their target price on Suncor Energy from C$64.00 to C$56.00 in a research note on Thursday, November 22nd. Canaccord Genuity reduced their target price on Suncor Energy from C$67.00 to C$65.00 in a research note on Tuesday, November 20th. Morgan Stanley reduced their target price on Suncor Energy from C$67.00 to C$58.00 in a research note on Tuesday, November 20th. JPMorgan Chase & Co. reduced their target price on Suncor Energy from C$59.00 to C$56.00 in a research note on Tuesday, December 11th. Finally, Barclays reduced their target price on Suncor Energy from C$68.00 to C$61.00 in a research note on Thursday, January 10th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Suncor Energy currently has an average rating of Buy and an average price target of C$55.39.
Shares of SU opened at C$45.02 on Thursday. Suncor Energy has a 12 month low of C$35.53 and a 12 month high of C$55.47. The company has a quick ratio of 0.52, a current ratio of 0.84 and a debt-to-equity ratio of 39.43. The firm has a market cap of $71.04 billion and a PE ratio of 22.29.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 25th. Shareholders of record on Monday, March 4th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, March 1st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.73%. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.36. Suncor Energy’s dividend payout ratio (DPR) is presently 71.29%.
In other Suncor Energy news, insider Steven Walter Williams bought 54,000 shares of the company’s stock in a transaction dated Friday, December 21st. The shares were purchased at an average cost of C$36.86 per share, for a total transaction of C$1,990,440.00. Following the transaction, the insider now directly owns 465,102 shares of the company’s stock, valued at C$17,143,659.72. Also, Senior Officer Michael Roderick Macsween sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, February 12th. The shares were sold at an average price of C$42.89, for a total value of C$1,072,250.00.
Suncor Energy Company Profile
Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada's Athabasca oil sands; explores, acquires, develops, produces, and markets crude oil and natural gas in Canada and internationally; transports and refines crude oil; markets petroleum and petrochemical products primarily in Canada.
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