Wells Fargo & Company Boosts Suncor Energy (TSE:SU) Price Target to C$60.00

Suncor Energy (TSE:SU) (NYSE:SU) had its target price boosted by analysts at Wells Fargo & Company from C$55.00 to C$60.00 in a research report issued to clients and investors on Thursday, BayStreet.CA reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 14.64% from the stock’s previous close.

Several other analysts have also issued reports on SU. National Bankshares cut their price target on shares of Suncor Energy from C$74.00 to C$57.00 and set an “outperform” rating for the company in a research report on Wednesday, January 10th. TD Securities lifted their price target on Suncor Energy from C$46.00 to C$48.00 and gave the stock a “hold” rating in a research note on Thursday, February 22nd. CIBC increased their price objective on Suncor Energy from C$58.00 to C$60.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Royal Bank of Canada lifted their target price on shares of Suncor Energy from C$52.00 to C$58.00 in a research note on Tuesday, April 9th. Finally, Desjardins upped their price target on shares of Suncor Energy from C$46.00 to C$48.50 and gave the company a “hold” rating in a report on Friday, March 22nd. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of C$55.42.

Suncor Energy Price Performance

Shares of TSE SU traded up C$0.16 during mid-day trading on Thursday, reaching C$52.34. 1,503,808 shares of the company were exchanged, compared to its average volume of 8,083,769. Suncor Energy has a 52 week low of C$37.09 and a 52 week high of C$53.78. The company’s 50 day moving average price is C$48.14 and its 200 day moving average price is C$45.55. The stock has a market capitalization of C$67.52 billion, a PE ratio of 8.27, a PEG ratio of 0.15 and a beta of 1.52. The company has a quick ratio of 0.83, a current ratio of 1.44 and a debt-to-equity ratio of 36.52.

Suncor Energy (TSE:SU) (NYSE:SU) last posted its quarterly earnings results on Wednesday, February 21st. The company reported C$1.26 EPS for the quarter, topping the consensus estimate of C$1.05 by C$0.21. The firm had revenue of C$14.14 billion for the quarter, compared to the consensus estimate of C$11.33 billion. Suncor Energy had a net margin of 16.90% and a return on equity of 20.07%. Sell-side analysts forecast that Suncor Energy will post 4.7415525 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Senior Officer Jacqueline Sue Moore sold 12,000 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of C$45.83, for a total transaction of C$549,960.00. In related news, Senior Officer Jacqueline Sue Moore sold 12,000 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of C$45.83, for a total value of C$549,960.00. Also, Senior Officer Shelley Powell sold 16,400 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of C$45.84, for a total transaction of C$751,776.00. Corporate insiders own 0.01% of the company’s stock.

Suncor Energy Company Profile

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.