Suncor Energy (TSE:SU) Price Target Raised to C$85.00 at National Bankshares

Suncor Energy (TSE:SU) (NYSE:SU) had its target price lifted by National Bankshares from C$72.00 to C$85.00 in a report issued on Tuesday morning,BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other research firms have also recently weighed in on SU. Gerdes Energy Research raised their target price on shares of Suncor Energy from C$75.00 to C$78.00 in a research note on Monday, November 10th. CIBC boosted their price objective on shares of Suncor Energy from C$65.00 to C$70.00 in a research note on Thursday, November 27th. JPMorgan Chase & Co. upped their target price on shares of Suncor Energy from C$59.00 to C$64.00 in a report on Thursday, November 6th. Desjardins lifted their price target on Suncor Energy from C$74.00 to C$79.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Finally, Scotiabank boosted their price target on Suncor Energy from C$62.00 to C$70.00 and gave the stock a “sector perform” rating in a research report on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$69.62.

Suncor Energy Price Performance

Shares of TSE SU opened at C$72.85 on Tuesday. The company has a debt-to-equity ratio of 33.35, a current ratio of 1.59 and a quick ratio of 0.83. The business has a 50-day moving average of C$63.96 and a 200-day moving average of C$59.28. The stock has a market capitalization of C$87.51 billion, a price-to-earnings ratio of 16.98, a PEG ratio of 0.15 and a beta of 0.89. Suncor Energy has a fifty-two week low of C$43.59 and a fifty-two week high of C$74.03.

Suncor Energy (TSE:SU) (NYSE:SU) last issued its quarterly earnings results on Tuesday, February 3rd. The company reported C$1.10 EPS for the quarter. Suncor Energy had a return on equity of 18.10% and a net margin of 15.15%. As a group, sell-side analysts predict that Suncor Energy will post 4.4208333 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 24th. Shareholders of record on Wednesday, December 24th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.3%. This is a boost from Suncor Energy’s previous quarterly dividend of $0.57. The ex-dividend date was Wednesday, December 3rd. Suncor Energy’s dividend payout ratio (DPR) is 53.15%.

Insider Transactions at Suncor Energy

In other news, insider Troy Ward Little sold 8,711 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of C$62.61, for a total value of C$545,395.71. Also, insider Kristopher Peter Smith sold 112,600 shares of Suncor Energy stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of C$61.74, for a total value of C$6,951,924.00. Following the sale, the insider directly owned 48,482 shares of the company’s stock, valued at approximately C$2,993,278.68. The trade was a 69.90% decrease in their ownership of the stock. Insiders sold a total of 164,675 shares of company stock worth $10,208,871 over the last quarter. Company insiders own 0.01% of the company’s stock.

About Suncor Energy

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. It also conducts energy trading activities focused principally on the marketing and trading of crude oil, natural gas, byproducts, refined products and power.