Suncor Energy (TSE:SU) Shares Cross Above 200-Day Moving Average – Should You Sell?

Suncor Energy Inc. (TSE:SU) (NYSE:SU)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$80.05 and traded as high as C$83.62. Suncor Energy shares last traded at C$82.97, with a volume of 3,331,638 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SU. National Bank Financial increased their price objective on shares of Suncor Energy from C$85.00 to C$118.00 and gave the company an “outperform” rating in a research report on Tuesday, March 31st. The Goldman Sachs Group downgraded shares of Suncor Energy from a “buy” rating to a “hold” rating in a research note on Friday, June 5th. Jefferies Financial Group raised their price target on Suncor Energy from C$66.00 to C$82.00 in a research note on Monday, March 16th. Royal Bank Of Canada lifted their price target on Suncor Energy from C$89.00 to C$100.00 and gave the stock an “outperform” rating in a report on Wednesday, April 8th. Finally, Scotia increased their price objective on Suncor Energy from C$85.00 to C$90.00 and gave the company a “sector perform” rating in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of C$94.25.

Suncor Energy Price Performance

The company has a debt-to-equity ratio of 32.36, a quick ratio of 0.83 and a current ratio of 1.42. The company has a market capitalization of C$97.97 billion, a PE ratio of 15.77, a P/E/G ratio of 0.15 and a beta of 0.17. The company’s 50-day simple moving average is C$85.86 and its 200-day simple moving average is C$80.05.

Suncor Energy (TSE:SU) (NYSE:SU) last announced its earnings results on Tuesday, May 5th. The company reported C$1.93 EPS for the quarter. Suncor Energy had a net margin of 12.17% and a return on equity of 14.01%. The business had revenue of C$14.48 billion during the quarter. As a group, sell-side analysts anticipate that Suncor Energy Inc. will post 4.4208333 earnings per share for the current year.

Suncor Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 25th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.9%. The ex-dividend date was Thursday, June 4th. Suncor Energy’s payout ratio is 44.49%.

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.