Suncor Energy (TSE:SU) Price Target Raised to C$70.00

Suncor Energy (TSE:SU) (NYSE:SU) had its price objective hoisted by Royal Bank Of Canada from C$67.00 to C$70.00 in a report issued on Friday morning,BayStreet.CA reports. Royal Bank Of Canada currently has an outperform rating on the stock.

SU has been the topic of several other research reports. Raymond James Financial boosted their target price on shares of Suncor Energy from C$70.00 to C$75.00 and gave the stock an “outperform” rating in a report on Wednesday, January 7th. CIBC lifted their price target on shares of Suncor Energy from C$65.00 to C$70.00 in a report on Thursday, November 27th. Gerdes Energy Research boosted their price target on shares of Suncor Energy from C$75.00 to C$78.00 in a research note on Monday, November 10th. National Bankshares cut their price objective on Suncor Energy from C$73.00 to C$72.00 and set an “outperform” rating for the company in a research report on Friday. Finally, UBS Group lifted their target price on Suncor Energy from C$61.00 to C$65.00 in a report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$67.62.

Suncor Energy Stock Performance

TSE SU opened at C$65.00 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.59 and a debt-to-equity ratio of 33.35. Suncor Energy has a twelve month low of C$43.59 and a twelve month high of C$65.07. The business has a 50-day moving average price of C$60.96 and a 200-day moving average price of C$57.26. The firm has a market cap of C$78.08 billion, a price-to-earnings ratio of 15.15, 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. Suncor Energy had a return on equity of 18.10% and a net margin of 15.15%.The company had revenue of C$12.55 billion for the quarter. As a group, equities research analysts predict that Suncor Energy will post 4.4208333 EPS for the current fiscal year.

Suncor Energy Increases Dividend

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

Insider Activity

In other Suncor Energy news, insider Peter Douglas Zebedee sold 43,364 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of C$62.53, for a total transaction of C$2,711,550.92. Also, insider Kristopher Peter Smith sold 112,600 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The shares were 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 approximately C$2,993,278.68. This trade represents a 69.90% decrease in their ownership of the stock. In the last three months, insiders have sold 164,675 shares of company stock worth $10,208,871. 0.01% of the stock is currently owned by corporate insiders.

About Suncor Energy

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.