Suncor Energy (NYSE:SU) Announces Quarterly Earnings Results

Suncor Energy (NYSE:SU) (TSE:SU) released its quarterly earnings data on Tuesday. The oil and gas producer reported $2.84 EPS for the quarter, beating the consensus estimate of $2.35 by $0.49, Zacks reports. Suncor Energy had a net margin of 17.49% and a return on equity of 25.94%. The business had revenue of $13.26 billion during the quarter, compared to analyst estimates of $11.85 billion. During the same quarter last year, the business earned $1.48 earnings per share.

Suncor Energy Trading Down 0.8%

Shares of SU traded down $0.60 during mid-day trading on Thursday, reaching $71.44. 2,478,960 shares of the company’s stock traded hands, compared to its average volume of 4,585,689. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.65 and a quick ratio of 1.08. The stock’s 50-day moving average is $71.49 and its two-hundred day moving average is $63.65. Suncor Energy has a 12 month low of $41.38 and a 12 month high of $80.25. The stock has a market cap of $83.56 billion, a P/E ratio of 10.55, a P/E/G ratio of 0.26 and a beta of 0.22.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 24th. Stockholders of record on Thursday, December 3rd will be paid a dividend of C$0.66 per share. This is a positive change from Suncor Energy’s previous quarterly dividend of C$0.60. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Thursday, December 3rd. Suncor Energy’s payout ratio is currently 25.44%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SU. Morgan Stanley set a $106.00 target price on shares of Suncor Energy in a research report on Wednesday, August 19th. Wall Street Zen raised Suncor Energy from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 17th. Zacks Research upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Desjardins raised Suncor Energy to a “moderate buy” rating in a research note on Thursday, July 16th. Finally, Weiss Ratings raised Suncor Energy from a “buy (b)” rating to a “buy (a-)” rating in a research note on Thursday, October 8th. Three analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $81.71.

About Suncor Energy

Suncor Energy Inc is an integrated energy company headquartered in Calgary, Alberta, Canada. Its operations span the energy value chain, including the development, production, upgrading, refining, and marketing of crude oil and petroleum products.

The company is one of Canada’s major oil sands producers, with interests in mining and in situ oil sands projects. Suncor produces bitumen and synthetic crude oil and also has conventional oil and offshore production interests. Its upstream portfolio includes operated and non-operated assets in Canada.

Through its downstream operations, Suncor refines crude oil into gasoline, diesel, jet fuel, asphalt, and other petroleum products.