Suncor Energy (TSE:SU) Announces Quarterly Earnings Results

Suncor Energy (TSE:SU) (NYSE:SU) released its quarterly earnings results on Tuesday. The company reported C$3.97 EPS for the quarter, FiscalAI reports. Suncor Energy had a return on equity of 19.38% and a net margin of 15.32%. The firm had revenue of C$18.88 billion for the quarter.

Suncor Energy Price Performance

Shares of TSE SU opened at C$105.43 on Wednesday. The stock has a market capitalization of C$123.31 billion, a P/E ratio of 14.08, a P/E/G ratio of 0.15 and a beta of 0.18. The company has a debt-to-equity ratio of 30.48, a current ratio of 1.65 and a quick ratio of 0.83. Suncor Energy has a 1 year low of C$54.55 and a 1 year high of C$112.80. The company’s 50-day moving average is C$100.14 and its 200 day moving average is C$88.29.

Suncor Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 25th were issued a $0.60 dividend. The ex-dividend date was Friday, September 4th. This represents a $2.40 annualized dividend and a yield of 2.3%. Suncor Energy’s dividend payout ratio (DPR) is 31.64%.

Analysts Set New Price Targets

Several analysts have recently commented on SU shares. JPMorgan Chase & Co. raised their price objective on shares of Suncor Energy from C$107.00 to C$114.00 in a research report on Thursday, August 13th. Raymond James Financial lifted their price target on Suncor Energy from C$109.00 to C$118.00 and gave the stock an “outperform” rating in a report on Wednesday, September 16th. Desjardins increased their price objective on Suncor Energy from C$110.00 to C$117.00 and gave the company a “buy” rating in a report on Tuesday, October 20th. BMO Capital Markets increased their target price on shares of Suncor Energy from C$100.00 to C$105.00 in a research report on Wednesday, August 5th. Finally, Gerdes Energy Research downgraded shares of Suncor Energy from a “buy” rating to a “neutral” rating and raised their price objective for the stock from C$96.00 to C$97.00 in a report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$103.06.

Insider Buying and Selling

In other news, insider Shelley Powell sold 41,911 shares of Suncor Energy stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of C$87.60, for a total transaction of C$3,671,403.60. Following the completion of the sale, the insider owned 27,705 shares of the company’s stock, valued at approximately C$2,426,958. The trade was a 60.20% decrease in their ownership of the stock. Also, insider Peter Douglas Zebedee sold 5,000 shares of the stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of C$98.00, for a total transaction of C$490,000.00. Insiders have sold 79,792 shares of company stock valued at $7,294,928 in the last 90 days. Insiders own 0.01% of the company’s stock.

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.