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

Suncor Energy Inc. (TSE:SU) (NYSE:SU)’s stock price hit a new 52-week high during trading 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 traded. The stock had previously closed at C$52.99.

Other research analysts have also issued reports about the stock. TD Securities lifted their price objective on shares of Suncor Energy from C$46.00 to C$48.00 and gave the company a “hold” rating in a research note on Thursday, February 22nd. Wells Fargo & Company lifted their price objective on shares of Suncor Energy from C$55.00 to C$60.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Jefferies Financial Group lifted their price objective on shares of Suncor Energy from C$50.00 to C$53.00 and gave the company a “hold” rating in a research note on Friday, April 12th. Royal Bank of Canada lifted their price objective on shares of Suncor Energy from C$52.00 to C$58.00 in a research note on Tuesday, April 9th. Finally, National Bankshares lifted their price objective on shares of Suncor Energy from C$57.00 to C$75.00 and gave the company an “outperform” rating in a research note on Friday. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of C$57.19.

Insider Buying and Selling

In related news, Senior Officer Shelley Powell sold 16,400 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of C$45.84, for a total transaction of C$751,776.00. In related news, Senior Officer Shelley Powell sold 16,400 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of C$45.84, for a total transaction of C$751,776.00. Also, Senior Officer Jacqueline Sue Moore sold 12,000 shares of the business’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 Trading Up 1.0 %

The business’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 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 cap of C$69.07 billion, a price-to-earnings ratio of 8.46, a price-to-earnings-growth ratio of 0.15 and a beta of 1.52.

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

Suncor Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Monday, March 4th were given a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date was Friday, March 1st. Suncor Energy’s dividend payout ratio is presently 34.44%.

About Suncor Energy

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.