Scotiabank Forecasts Strong Price Appreciation for Suncor Energy (TSE:SU) Stock

Suncor Energy (TSE:SU) (NYSE:SU) had its price target raised by equities research analysts at Scotiabank from C$62.00 to C$70.00 in a report released on Tuesday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s price target would suggest a potential upside of 0.24% from the stock’s current price.

A number of other equities analysts also recently issued reports on the stock. Desjardins increased their price objective on shares of Suncor Energy from C$73.00 to C$74.00 and gave the company a “buy” rating in a research note on Friday, December 12th. UBS Group increased their target price on Suncor Energy from C$61.00 to C$65.00 in a research report on Wednesday, November 5th. National Bankshares cut their price target on Suncor Energy from C$73.00 to C$72.00 and set an “outperform” rating on the stock in a report on Friday, January 9th. Gerdes Energy Research upped their price objective on Suncor Energy from C$75.00 to C$78.00 in a research note on Monday, November 10th. Finally, CIBC raised their price objective on Suncor Energy from C$65.00 to C$70.00 in a research report on Thursday, November 27th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$68.23.

Suncor Energy Trading Up 2.2%

Shares of TSE SU opened at C$69.83 on Tuesday. 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 business has a fifty day simple moving average of C$62.41 and a two-hundred day simple moving average of C$58.14. The firm has a market cap of C$83.88 billion, a PE ratio of 16.28, a price-to-earnings-growth ratio of 0.15 and a beta of 0.79. Suncor Energy has a twelve month low of C$43.59 and a twelve month high of C$70.32.

Suncor Energy (TSE:SU) (NYSE:SU) last issued its 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%. Analysts expect that Suncor Energy will post 4.4208333 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Peter Douglas Zebedee sold 43,364 shares of the business’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of C$62.53, for a total transaction of C$2,711,550.92. Also, insider Kristopher Peter Smith sold 112,600 shares of the company’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of C$61.74, for a total transaction of C$6,951,924.00. Following the transaction, the insider owned 48,482 shares in the company, valued at approximately C$2,993,278.68. This trade represents a 69.90% decrease in their position. Over the last 90 days, insiders sold 164,675 shares of company stock valued at $10,208,871. 0.01% of the stock is currently owned by corporate insiders.

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.