Suncor Energy (TSE:SU) Given New C$60.00 Price Target at Wells Fargo & Company

Suncor Energy (TSE:SU) (NYSE:SU) had its price target increased by Wells Fargo & Company from C$59.00 to C$60.00 in a research report sent to investors on Thursday,BayStreet.CA reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other research firms have also recently weighed in on SU. Desjardins cut their price objective on Suncor Energy from C$63.00 to C$62.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Raymond James Financial lifted their price objective on Suncor Energy from C$54.00 to C$56.00 and gave the company a “market perform” rating in a report on Thursday, May 8th. TD Securities cut their target price on Suncor Energy from C$63.00 to C$62.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. Scotiabank upgraded Suncor Energy to a “hold” rating in a research note on Wednesday, March 19th. Finally, JPMorgan Chase & Co. cut their target price on Suncor Energy from C$63.00 to C$62.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Suncor Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of C$62.67.

Suncor Energy Price Performance

Shares of SU stock opened at C$51.76 on Thursday. The stock has a 50-day moving average price of C$50.46 and a 200 day moving average price of C$52.24. The company has a quick ratio of 0.83, a current ratio of 1.59 and a debt-to-equity ratio of 33.35. The firm has a market cap of C$64.92 billion, a price-to-earnings ratio of 8.17, a PEG ratio of 0.15 and a beta of 1.47. Suncor Energy has a 12 month low of C$43.59 and a 12 month high of C$58.58.

Suncor Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Wednesday, June 25th were paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date of this dividend was Wednesday, June 4th. Suncor Energy’s dividend payout ratio (DPR) is presently 34.42%.

Insider Activity at Suncor Energy

In other Suncor Energy news, Senior Officer Jacqueline Sue Moore sold 25,585 shares of the company’s stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of C$55.99, for a total value of C$1,432,478.57. Also, Director Russell Girling acquired 10,000 shares of the firm’s stock in a transaction on Friday, June 6th. The stock was purchased at an average cost of C$50.41 per share, for a total transaction of C$504,100.00. 0.01% of the stock is owned by company insiders.

Suncor Energy Company Profile

Suncor Energy Inc is an integrated energy company. The company’s operations include oil sands development, production and upgrading, offshore oil and gas, petroleum refining in Canada and the U.S. and the company’s PetroCanada retail and wholesale distribution networks. The company is developing petroleum resources while advancing the transition to a low-emissions future through investment in power, renewable fuels and hydrogen.