Suncor Energy (TSE:SU) Hits New 12-Month High Following Analyst Upgrade

Suncor Energy Inc. (TSE:SU) (NYSE:SU)’s share price hit a new 52-week high during trading on Friday after Royal Bank Of Canada raised their price target on the stock from C$67.00 to C$70.00. Royal Bank Of Canada currently has an outperform rating on the stock. Suncor Energy traded as high as C$64.93 and last traded at C$64.84, with a volume of 1417020 shares trading hands. The stock had previously closed at C$63.33.

A number of other analysts have also weighed in on SU. Gerdes Energy Research upped their price objective on shares of Suncor Energy from C$75.00 to C$78.00 in a research note on Monday, November 10th. CIBC upped their price target on shares of Suncor Energy from C$65.00 to C$70.00 in a research report on Thursday, November 27th. Wells Fargo & Company set a C$57.00 price objective on shares of Suncor Energy and gave the company an “equal weight” rating in a report on Friday, October 17th. Desjardins lifted their target price on Suncor Energy from C$73.00 to C$74.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Finally, Raymond James Financial increased their price target on shares of Suncor Energy from C$70.00 to C$75.00 and gave the company an “outperform” rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Suncor Energy currently has a consensus rating of “Moderate Buy” and an average price target of C$67.62.

Insiders Place Their Bets

In other Suncor Energy news, insider Peter Douglas Zebedee sold 43,364 shares of the firm’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of C$62.53, for a total value of C$2,711,550.92. Also, insider Kristopher Peter Smith sold 112,600 shares of the business’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of C$61.74, for a total value of C$6,951,924.00. Following the sale, the insider owned 48,482 shares in the company, valued at C$2,993,278.68. The trade was a 69.90% decrease in their position. Over the last 90 days, insiders sold 164,675 shares of company stock valued at $10,208,871. 0.01% of the stock is currently owned by corporate insiders.

Suncor Energy Price Performance

The company has a quick ratio of 0.83, a current ratio of 1.59 and a debt-to-equity ratio of 33.35. The stock’s 50 day moving average price is C$60.78 and its two-hundred day moving average price is C$57.11. The stock has a market cap of C$78.13 billion, a price-to-earnings ratio of 15.16, a price-to-earnings-growth ratio of 0.15 and a beta of 0.79.

Suncor Energy (TSE:SU) (NYSE:SU) last posted its quarterly earnings results on Tuesday, November 4th. The company reported C$1.48 EPS for the quarter. The company had revenue of C$12.55 billion for the quarter. Suncor Energy had a net margin of 15.15% and a return on equity of 18.10%. Equities research analysts forecast that Suncor Energy Inc. will post 4.4208333 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 24th. Shareholders of record on Wednesday, December 24th were issued a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, December 3rd. This is a boost from Suncor Energy’s previous quarterly dividend of $0.57. This represents a $2.40 dividend on an annualized basis and a yield of 3.7%. Suncor Energy’s dividend payout ratio is presently 53.15%.

Suncor Energy Company Profile

Suncor Energy Inc is an integrated energy company. The company’s operations include oil sands development, production and upgrading, offshore oil and gas, petroleum refining in Canada and the U.S. and the company’s PetroCanada retail and wholesale distribution networks. The company is developing petroleum resources while advancing the transition to a low-emissions future through investment in power, renewable fuels and hydrogen. It also conducts energy trading activities focused principally on the marketing and trading of crude oil, natural gas, byproducts, refined products and power.