Suncor Energy (NYSE:SU) Sees Strong Trading Volume

Suncor Energy Inc. (NYSE:SUGet Rating) (TSE:SU) shares saw strong trading volume on Friday . 230,143 shares traded hands during mid-day trading, a decline of 95% from the previous session’s volume of 4,408,571 shares.The stock last traded at $27.74 and had previously closed at $30.18.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Raymond James downgraded Suncor Energy from an “outperform” rating to a “market perform” rating in a research report on Monday, July 11th. Scotiabank increased their price objective on shares of Suncor Energy from C$46.00 to C$57.00 in a research report on Wednesday, June 8th. BMO Capital Markets lifted their price objective on shares of Suncor Energy from C$54.00 to C$60.00 in a research report on Thursday, June 9th. Credit Suisse Group reissued an “outperform” rating and issued a $63.00 target price on shares of Suncor Energy in a report on Thursday, August 11th. Finally, National Bank Financial decreased their price target on Suncor Energy from C$73.00 to C$64.00 in a report on Monday, July 18th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.38.

Suncor Energy Stock Down 10.0 %

The stock has a market cap of $37.10 billion, a PE ratio of 5.30, a P/E/G ratio of 0.67 and a beta of 1.25. The business has a 50 day moving average of $31.95 and a 200-day moving average of $34.00. The company has a current ratio of 1.14, a quick ratio of 0.74 and a debt-to-equity ratio of 0.32.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 26th. Stockholders of record on Friday, September 2nd will be given a dividend of $0.3656 per share. The ex-dividend date is Thursday, September 1st. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.36. This represents a $1.46 dividend on an annualized basis and a dividend yield of 5.39%. Suncor Energy’s dividend payout ratio (DPR) is 27.66%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Financial Gravity Asset Management Inc. acquired a new stake in shares of Suncor Energy during the second quarter worth about $4,145,000. Herold Advisors Inc. purchased a new stake in Suncor Energy during the 1st quarter valued at approximately $33,000. Fortis Advisors LLC acquired a new stake in Suncor Energy during the 1st quarter worth approximately $33,000. Corsicana & Co. purchased a new position in shares of Suncor Energy in the 2nd quarter valued at approximately $35,000. Finally, Toth Financial Advisory Corp increased its holdings in shares of Suncor Energy by 400.0% in the second quarter. Toth Financial Advisory Corp now owns 1,000 shares of the oil and gas producer’s stock valued at $35,000 after purchasing an additional 800 shares during the period. 58.79% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Company Profile

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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, transports, refines, and markets crude oil in Canada and internationally; markets petroleum and petrochemical products under the Petro-Canada name primarily in Canada.

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