Royal Bank of Canada Increases Suncor Energy (NYSE:SU) Price Target to C$47.00

Suncor Energy (NYSE:SU – Get Rating) (TSE:SU) had its price target raised by analysts at Royal Bank of Canada from C$42.00 to C$47.00 in a research note issued to investors on Wednesday, The Fly reports.

Several other research analysts have also recently issued reports on SU. Tudor Pickering cut shares of Suncor Energy from a “buy” rating to a “hold” rating and set a $42.00 target price on the stock. in a report on Friday, February 4th. Raymond James raised their price target on Suncor Energy from C$50.00 to C$52.00 in a research note on Tuesday. Scotiabank raised their price target on Suncor Energy from C$45.00 to C$46.00 in a research note on Monday, April 18th. TD Securities raised their price target on Suncor Energy from C$51.00 to C$53.00 in a research note on Tuesday. Finally, CIBC raised their price objective on Suncor Energy from C$50.00 to C$60.00 in a research report on Thursday, April 14th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $45.86.

NYSE SU traded up $1.28 on Wednesday, reaching $35.62. 1,056,580 shares of the company’s stock traded hands, compared to its average volume of 8,350,920. Suncor Energy has a 12 month low of $17.10 and a 12 month high of $37.93. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.06 and a quick ratio of 0.66. The stock has a 50-day simple moving average of $33.11 and a 200 day simple moving average of $28.87. The stock has a market cap of $50.40 billion, a PE ratio of 16.05, a P/E/G ratio of 0.56 and a beta of 1.35.

A number of institutional investors have recently added to or reduced their stakes in the business. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Suncor Energy during the third quarter worth about $29,000. Carolinas Wealth Consulting LLC boosted its position in shares of Suncor Energy by 60.7% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 1,165 shares of the oil and gas producer’s stock worth $29,000 after buying an additional 440 shares during the period. EverSource Wealth Advisors LLC acquired a new position in shares of Suncor Energy during the fourth quarter worth approximately $33,000. Herold Advisors Inc. acquired a new position in shares of Suncor Energy during the first quarter worth approximately $33,000. Finally, Achmea Investment Management B.V. acquired a new position in shares of Suncor Energy during the third quarter worth approximately $43,000. 58.48% of the stock is owned by institutional investors.

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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