Wells Fargo & Company Increases Suncor Energy (TSE:SU) Price Target to C$60.00

Suncor Energy (TSE:SU) (NYSE:SU) had its target price increased by equities research analysts at Wells Fargo & Company from C$55.00 to C$60.00 in a report issued on Thursday, BayStreet.CA reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 13.23% from the company’s current price.

Several other brokerages also recently weighed in on SU. BMO Capital Markets raised their price target on Suncor Energy from C$52.00 to C$55.00 in a report on Thursday, March 28th. Jefferies Financial Group lifted their target price on Suncor Energy from C$50.00 to C$53.00 and gave the stock a “hold” rating in a report on Friday, April 12th. Royal Bank of Canada lifted their target price on Suncor Energy from C$52.00 to C$58.00 in a report on Tuesday, April 9th. Desjardins lifted their target price on Suncor Energy from C$46.00 to C$48.50 and gave the stock a “hold” rating in a report on Friday, March 22nd. Finally, CIBC lifted their target price on Suncor Energy from C$58.00 to C$60.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Suncor Energy presently has an average rating of “Hold” and an average target price of C$56.81.

Suncor Energy Price Performance

SU opened at C$52.99 on Thursday. The business’s 50-day moving average is C$48.52 and its two-hundred day moving average is C$45.64. Suncor Energy has a 1 year low of C$37.09 and a 1 year high of C$53.78. The company has a debt-to-equity ratio of 36.52, a current ratio of 1.44 and a quick ratio of 0.83. The firm has a market capitalization of C$68.36 billion, a PE ratio of 8.37, a price-to-earnings-growth ratio of 0.15 and a beta of 1.52.

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

Insider Buying and Selling at Suncor Energy

In other Suncor Energy news, Senior Officer Jacqueline Sue Moore sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of C$45.83, for a total value of C$549,960.00. In other news, Senior Officer Shelley Powell sold 16,400 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was 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 business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of C$45.83, for a total value of C$549,960.00. 0.01% of the stock is currently owned by corporate insiders.

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.