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

Suncor Energy (TSE:SU) (NYSE:SU) had its target price boosted by research analysts at Desjardins from C$74.00 to C$79.00 in a research report issued on Monday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Desjardins’ target price suggests a potential upside of 11.93% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the stock. CIBC increased their price target on shares of Suncor Energy from C$65.00 to C$70.00 in a research report on Thursday, November 27th. JPMorgan Chase & Co. boosted their price objective on shares of Suncor Energy from C$59.00 to C$64.00 in a research report on Thursday, November 6th. National Bankshares dropped their target price on shares of Suncor Energy from C$73.00 to C$72.00 and set an “outperform” rating for the company in a report on Friday, January 9th. Wells Fargo & Company set a C$57.00 target price on Suncor Energy and gave the stock an “equal weight” rating in a research note on Friday, October 17th. Finally, Gerdes Energy Research boosted their price target on Suncor Energy from C$75.00 to C$78.00 in a report on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$68.62.

Suncor Energy Trading Up 0.6%

Shares of SU stock opened at C$70.58 on Monday. The business has a 50-day moving average of C$63.01 and a 200 day moving average of C$58.63. 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 has a 1-year low of C$43.59 and a 1-year high of C$71.04. The stock has a market capitalization of C$84.79 billion, a PE ratio of 16.45, a P/E/G ratio of 0.15 and a beta of 0.79.

Suncor Energy (TSE:SU) (NYSE:SU) last announced its quarterly earnings data on Tuesday, November 4th. The company reported C$1.48 earnings per share for the quarter. The firm had revenue of C$12.55 billion during 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 anticipate that Suncor Energy will post 4.4208333 earnings per share for the current year.

Insider Buying and Selling

In related news, 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 transaction, the insider directly owned 48,482 shares of the company’s stock, valued at approximately C$2,993,278.68. This represents a 69.90% decrease in their position. Also, insider Troy Ward Little sold 8,711 shares of the stock in a transaction on Monday, November 17th. The shares were sold at an average price of C$62.61, for a total value of C$545,395.71. Insiders have sold a total of 164,675 shares of company stock worth $10,208,871 in the last quarter. Corporate insiders own 0.01% of the company’s stock.

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