CIBC Raises Suncor Energy (NYSE:SU) Price Target to C$60.00

Suncor Energy (NYSE:SU – Get Rating) (TSE:SU) had its target price lifted by CIBC from C$50.00 to C$60.00 in a research note published on Thursday, The Fly reports.

Other equities research analysts also recently issued reports about the stock. National Bank Financial lifted their price target on shares of Suncor Energy from C$52.00 to C$54.00 in a research report on Thursday. Tudor Pickering downgraded shares of Suncor Energy from a buy rating to a hold rating and set a $42.00 price target for the company. in a research report on Friday, February 4th. Royal Bank of Canada downgraded Suncor Energy from an outperform rating to a sector perform rating in a research report on Tuesday, February 15th. JPMorgan Chase & Co. cut shares of Suncor Energy from an overweight rating to a neutral rating and set a $38.00 target price for the company. in a research note on Friday, February 4th. Finally, Tudor, Pickering, Holt & Co. cut shares of Suncor Energy from a buy rating to a hold rating in a research note on Friday, February 4th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Suncor Energy presently has an average rating of Buy and an average target price of $42.14.

SU stock opened at $33.76 on Thursday. The firm has a 50 day moving average of $31.24 and a 200-day moving average of $27.29. Suncor Energy has a 12-month low of $17.10 and a 12-month high of $34.21. The company has a current ratio of 1.06, a quick ratio of 0.66 and a debt-to-equity ratio of 0.38. The company has a market cap of $48.32 billion, a price-to-earnings ratio of 15.21, a PEG ratio of 0.62 and a beta of 1.54.

Suncor Energy (NYSE:SU – Get Rating) (TSE:SU) last posted its quarterly earnings results on Wednesday, February 2nd. The oil and gas producer reported $0.71 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.05). Suncor Energy had a net margin of 10.53% and a return on equity of 10.44%. The company had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8 billion. During the same quarter in the previous year, the business posted ($0.07) earnings per share. Sell-side analysts forecast that Suncor Energy will post 3.94 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 25th. Shareholders of record on Friday, March 4th were issued a $0.3311 dividend. The ex-dividend date was Thursday, March 3rd. This represents a $1.32 dividend on an annualized basis and a yield of 3.92%. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.33. Suncor Energy’s payout ratio is currently 59.91%.

A number of hedge funds have recently modified their holdings of the business. Herold Advisors Inc. acquired a new stake in shares of Suncor Energy in the 3rd quarter valued at about $26,000. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Suncor Energy in the 3rd quarter valued at about $29,000. Carolinas Wealth Consulting LLC raised its stake in shares of Suncor Energy by 60.7% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 1,165 shares of the oil and gas producer’s stock valued at $29,000 after purchasing an additional 440 shares in the last quarter. EverSource Wealth Advisors LLC bought a new stake in shares of Suncor Energy during the 4th quarter valued at about $33,000. Finally, Achmea Investment Management B.V. bought a new stake in shares of Suncor Energy during the 3rd quarter valued at about $43,000. Hedge funds and other institutional investors own 59.48% of the company’s stock.

Suncor Energy Company Profile (Get Rating)

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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