Suncor Energy (TSE:SU) Shares Pass Above 200 Day Moving Average After Insider Selling

Suncor Energy Inc. (TSE:SU) (NYSE:SU) passed above its 200-day moving average during trading on Friday following insider buying activity. The stock has a 200-day moving average of C$52.22 and traded as high as C$58.60. Suncor Energy shares last traded at C$57.75, with a volume of 5,411,958 shares trading hands.

Specifically, Director Russell Girling purchased 10,000 shares of the company’s stock in a transaction dated Thursday, August 14th. The shares were acquired at an average cost of C$53.48 per share, for a total transaction of C$534,790.00. Following the transaction, the director owned 45,000 shares of the company’s stock, valued at C$2,406,555. This trade represents a 28.57% increase in their ownership of the stock.

Analysts Set New Price Targets

SU has been the subject of a number of recent research reports. Raymond James Financial upped their price objective on Suncor Energy from C$57.00 to C$58.00 and gave the stock a “market perform” rating in a research note on Thursday, August 7th. Wells Fargo & Company boosted their price target on shares of Suncor Energy from C$59.00 to C$60.00 and gave the company an “overweight” rating in a report on Thursday, June 26th. ATB Capital increased their price objective on shares of Suncor Energy from C$60.00 to C$62.00 and gave the stock a “sector perform” rating in a report on Thursday, August 7th. TD Securities lifted their price objective on shares of Suncor Energy from C$62.00 to C$63.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. Finally, Jefferies Financial Group upped their target price on shares of Suncor Energy from C$53.00 to C$57.00 in a research report on Monday, August 18th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$63.67.

Suncor Energy Stock Down 0.6%

The company has a current ratio of 1.59, a quick ratio of 0.83 and a debt-to-equity ratio of 33.35. The company has a market cap of C$70.07 billion, a price-to-earnings ratio of 12.72, a P/E/G ratio of 0.15 and a beta of 0.83. The business has a fifty day moving average price of C$54.70 and a two-hundred day moving average price of C$52.22.

Suncor Energy (TSE:SU) (NYSE:SU) last released its quarterly earnings data on Tuesday, August 5th. The company reported C$0.71 earnings per share for the quarter. Suncor Energy had a net margin of 15.15% and a return on equity of 18.10%. On average, equities analysts predict that Suncor Energy Inc. will post 4.4208333 earnings per share for the current year.

Suncor Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 25th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.9%. Suncor Energy’s dividend payout ratio is 49.67%.

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.