Suncor Energy (NYSE:SU) Given New $62.00 Price Target at The Goldman Sachs Group

Suncor Energy (NYSE:SU) (TSE:SU) had its price objective hoisted by The Goldman Sachs Group from $55.00 to $62.00 in a research note released on Thursday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the oil and gas producer’s stock.

Several other research firms have also recently commented on SU. Royal Bank Of Canada upped their target price on shares of Suncor Energy from $69.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. JPMorgan Chase & Co. raised Suncor Energy from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $46.15 to $54.00 in a research note on Tuesday, January 20th. Weiss Ratings restated a “buy (b)” rating on shares of Suncor Energy in a research report on Monday, December 29th. Wall Street Zen cut Suncor Energy from a “buy” rating to a “hold” rating in a report on Sunday, December 28th. Finally, Zacks Research lowered shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 20th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $63.67.

Suncor Energy Stock Up 2.5%

SU opened at $59.76 on Thursday. The business has a 50 day moving average price of $53.00 and a 200 day moving average price of $45.90. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.89 and a current ratio of 1.39. Suncor Energy has a twelve month low of $30.79 and a twelve month high of $60.09. The firm has a market cap of $71.10 billion, a P/E ratio of 17.22 and a beta of 0.43.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Tuesday, February 3rd. The oil and gas producer reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.02. The business had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.79 billion. Suncor Energy had a net margin of 11.99% and a return on equity of 12.51%. During the same period in the prior year, the firm earned $1.25 EPS. Research analysts forecast that Suncor Energy will post 3.42 EPS for the current year.

Suncor Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 4th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.0%. Suncor Energy’s dividend payout ratio is currently 50.72%.

Institutional Investors Weigh In On Suncor Energy

Hedge funds and other institutional investors have recently bought and sold shares of the company. Atlantic Edge Private Wealth Management LLC raised its holdings in shares of Suncor Energy by 54.9% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 225 shares during the last quarter. Richardson Financial Services Inc. raised its holdings in shares of Suncor Energy by 64.1% in the 3rd quarter. Richardson Financial Services Inc. now owns 704 shares of the oil and gas producer’s stock valued at $29,000 after purchasing an additional 275 shares during the period. Headlands Technologies LLC bought a new stake in Suncor Energy in the second quarter valued at approximately $31,000. 1 North Wealth Services LLC bought a new stake in Suncor Energy in the 4th quarter valued at $32,000. Finally, Hanson & Doremus Investment Management lifted its stake in shares of Suncor Energy by 143.5% during the 3rd quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 465 shares during the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Company Profile

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.