Suncor Energy (NYSE:SU) Stock Price Down 7.6%

Suncor Energy Inc. (NYSE:SUGet Rating) (TSE:SU) shares dropped 7.6% during mid-day trading on Friday . The stock traded as low as $34.05 and last traded at $34.06. Approximately 352,682 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 6,897,512 shares. The stock had previously closed at $36.86.

SU has been the topic of several research reports. BMO Capital Markets boosted their target price on Suncor Energy from C$54.00 to C$60.00 in a research note on Thursday, June 9th. Scotiabank boosted their target price on Suncor Energy from C$46.00 to C$57.00 in a research note on Wednesday, June 8th. StockNews.com initiated coverage on Suncor Energy in a research note on Thursday, March 31st. They issued a “buy” rating on the stock. Royal Bank of Canada boosted their target price on Suncor Energy from C$42.00 to C$47.00 in a research note on Wednesday, May 11th. Finally, Wells Fargo & Company boosted their price objective on Suncor Energy from $42.00 to $51.00 and gave the company an “overweight” rating in a research note on Friday, March 11th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Suncor Energy has a consensus rating of “Buy” and a consensus target price of $51.14.

The business has a fifty day moving average price of $37.01 and a 200-day moving average price of $31.43. The company has a current ratio of 1.18, a quick ratio of 0.75 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $48.40 billion, a PE ratio of 10.78, a PEG ratio of 1.24 and a beta of 1.34.

Suncor Energy (NYSE:SUGet Rating) (TSE:SU) last posted its quarterly earnings data on Monday, May 9th. The oil and gas producer reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.21. Suncor Energy had a return on equity of 15.69% and a net margin of 14.18%. The firm had revenue of $10.65 billion during the quarter, compared to analysts’ expectations of $9.18 billion. On average, equities analysts anticipate that Suncor Energy Inc. will post 5.94 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 24th. Stockholders of record on Friday, June 3rd will be issued a $0.3623 dividend. This is a boost from Suncor Energy’s previous quarterly dividend of $0.33. This represents a $1.45 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date is Thursday, June 2nd. Suncor Energy’s dividend payout ratio is presently 43.57%.

A number of hedge funds have recently modified their holdings of the stock. Vise Technologies Inc. purchased a new stake in Suncor Energy during the 1st quarter valued at about $296,000. Verition Fund Management LLC boosted its holdings in Suncor Energy by 149.0% during the 1st quarter. Verition Fund Management LLC now owns 203,110 shares of the oil and gas producer’s stock valued at $6,619,000 after acquiring an additional 121,538 shares during the period. Taconic Capital Advisors LP purchased a new stake in Suncor Energy during the 1st quarter valued at about $1,467,000. Neuberger Berman Group LLC lifted its holdings in Suncor Energy by 2.9% in the 1st quarter. Neuberger Berman Group LLC now owns 414,851 shares of the oil and gas producer’s stock worth $13,692,000 after buying an additional 11,612 shares during the period. Finally, Capital International Sarl purchased a new stake in Suncor Energy in the 1st quarter worth approximately $2,025,000. Institutional investors own 58.48% of the company’s stock.

Suncor Energy Company Profile (NYSE:SU)

Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada's Athabasca oil sands; explores, acquires, develops, produces, transports, refines, and markets crude oil in Canada and internationally; markets petroleum and petrochemical products under the Petro-Canada name primarily in Canada.

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