Suncor Energy (TSE:SU) Reaches New 1-Year High on Analyst Upgrade

Suncor Energy Inc. (TSE:SU) (NYSE:SU) reached a new 52-week high on Monday after CIBC raised their price target on the stock from C$60.00 to C$65.00. CIBC currently has an outperform rating on the stock. Suncor Energy traded as high as C$53.85 and last traded at C$53.58, with a volume of 1945192 shares trading hands. The stock had previously closed at C$52.99.

Several other research firms have also commented on SU. National Bankshares upped their price objective on Suncor Energy from C$57.00 to C$75.00 and gave the stock an “outperform” rating in a research note on Friday. TD Securities upped their price objective on Suncor Energy from C$46.00 to C$48.00 and gave the stock a “hold” rating in a research note on Thursday, February 22nd. Jefferies Financial Group upped their price objective on Suncor Energy from C$50.00 to C$53.00 and gave the stock a “hold” rating in a research note on Friday, April 12th. Royal Bank of Canada upped their price objective on Suncor Energy from C$52.00 to C$58.00 in a research note on Tuesday, April 9th. Finally, BMO Capital Markets upped their price objective on Suncor Energy from C$52.00 to C$55.00 in a research note on Thursday, March 28th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of C$57.19.

Insider Activity at Suncor Energy

In related news, Senior Officer Jacqueline Sue Moore sold 12,000 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of C$45.83, for a total value of C$549,960.00. In other Suncor Energy news, Senior Officer Shelley Powell sold 16,400 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of C$45.84, for a total value of C$751,776.00. Also, Senior Officer Jacqueline Sue Moore sold 12,000 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of C$45.83, for a total transaction of C$549,960.00. 0.01% of the stock is owned by insiders.

Suncor Energy Stock Up 1.0 %

The company’s 50 day moving average price is C$48.72 and its two-hundred day moving average price is C$45.72. The company has a quick ratio of 0.83, a current ratio of 1.44 and a debt-to-equity ratio of 36.52. The stock has a market cap of C$69.07 billion, a P/E ratio of 8.46, a P/E/G ratio of 0.15 and a beta of 1.52.

Suncor Energy (TSE:SU) (NYSE:SU) last posted its quarterly earnings results on Wednesday, February 21st. The company reported C$1.26 earnings per share for the quarter, beating the consensus estimate of C$1.05 by C$0.21. Suncor Energy had a net margin of 16.90% and a return on equity of 20.07%. The firm had revenue of C$14.14 billion during the quarter, compared to the consensus estimate of C$11.33 billion. As a group, research analysts expect that Suncor Energy Inc. will post 4.7415525 earnings per share for the current year.

Suncor Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Monday, March 4th were issued a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend was Friday, March 1st. Suncor Energy’s payout ratio is 34.44%.

Suncor Energy Company Profile

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.