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

Shares of Suncor Energy Inc. (TSE:SU) (NYSE:SU) reached a new 52-week high during trading on Friday after Royal Bank Of Canada raised their price target on the stock from C$67.00 to C$70.00. Royal Bank Of Canada currently has an outperform rating on the stock. Suncor Energy traded as high as C$64.93 and last traded at C$64.84, with a volume of 1417020 shares changing hands. The stock had previously closed at C$63.33.

SU has been the subject of several other reports. Wells Fargo & Company set a C$57.00 price target on Suncor Energy and gave the stock an “equal weight” rating in a research report on Friday, October 17th. Raymond James Financial raised their target price on Suncor Energy from C$70.00 to C$75.00 and gave the company an “outperform” rating in a report on Wednesday. TD Securities boosted their price target on shares of Suncor Energy from C$71.00 to C$73.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. UBS Group increased their price target on shares of Suncor Energy from C$61.00 to C$65.00 in a research report on Wednesday, November 5th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Suncor Energy from C$59.00 to C$64.00 in a report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$67.62.

Insider Buying and Selling at Suncor Energy

In other news, insider Peter Douglas Zebedee sold 43,364 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of C$62.53, for a total value of C$2,711,550.92. Also, insider Kristopher Peter Smith sold 112,600 shares of the company’s 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 owned 48,482 shares of the company’s stock, valued at C$2,993,278.68. This trade represents a 69.90% decrease in their position. Insiders sold a total of 164,675 shares of company stock valued at $10,208,871 in the last ninety days. Insiders own 0.01% of the company’s stock.

Suncor Energy Price Performance

The stock has a market cap of C$78.08 billion, a PE ratio of 15.15, a PEG ratio of 0.15 and a beta of 0.79. The company has a 50-day simple moving average of C$60.96 and a 200-day simple moving average of C$57.22. The company has a debt-to-equity ratio of 33.35, a current ratio of 1.59 and a quick ratio of 0.83.

Suncor Energy (TSE:SU) (NYSE:SU) last posted its quarterly earnings results on Tuesday, November 4th. The company reported C$1.48 earnings per share (EPS) for the quarter. The company had revenue of C$12.55 billion for the quarter. Suncor Energy had a net margin of 15.15% and a return on equity of 18.10%. Sell-side analysts anticipate that Suncor Energy Inc. will post 4.4208333 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 24th. Stockholders of record on Wednesday, December 24th were paid a $0.60 dividend. The ex-dividend date was Wednesday, December 3rd. This is a boost from Suncor Energy’s previous quarterly dividend of $0.57. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.7%. Suncor Energy’s dividend payout ratio is presently 53.15%.

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.