RBC Capital Markets reaffirmed their outperform rating on shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) in a research report report published on Monday. RBC Capital Markets currently has a $47.00 price objective on the stock, up from their previous price objective of $45.00.

Several other research analysts have also recently weighed in on the stock. Bank of America Corp. started coverage on shares of Suncor Energy in a research report on Friday, August 19th. They issued a buy rating and a $33.00 price objective for the company. Scotiabank restated an outperform rating and issued a $38.00 price objective on shares of Suncor Energy in a research report on Sunday, July 31st. Nomura restated a buy rating and issued a $45.00 price objective on shares of Suncor Energy in a research report on Monday, November 7th. Zacks Investment Research cut shares of Suncor Energy from a buy rating to a hold rating in a research report on Monday, August 8th. Finally, Macquarie upgraded shares of Suncor Energy from a neutral rating to an outperform rating in a research report on Thursday, October 27th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $41.15.

Shares of Suncor Energy (NYSE:SU) opened at 31.84 on Monday. The stock’s market capitalization is $53.01 billion. Suncor Energy has a one year low of $18.71 and a one year high of $31.93. The company’s 50 day moving average price is $29.39 and its 200 day moving average price is $27.76.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 23rd. Shareholders of record on Friday, December 2nd will be issued a $0.216 dividend. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $0.86 annualized dividend and a yield of 2.71%. Suncor Energy’s dividend payout ratio is currently -81.65%.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Envestnet Asset Management Inc. raised its position in shares of Suncor Energy by 4.8% in the first quarter. Envestnet Asset Management Inc. now owns 71,631 shares of the company’s stock worth $1,992,000 after buying an additional 3,273 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in Suncor Energy by 2.3% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 24,792 shares of the company’s stock valued at $689,000 after buying an additional 552 shares in the last quarter. First Republic Investment Management Inc. raised its stake in Suncor Energy by 179.3% in the first quarter. First Republic Investment Management Inc. now owns 138,017 shares of the company’s stock valued at $3,838,000 after buying an additional 88,595 shares in the last quarter. Marshwinds Advisory Co. raised its stake in Suncor Energy by 46.9% in the second quarter. Marshwinds Advisory Co. now owns 35,816 shares of the company’s stock valued at $993,000 after buying an additional 11,440 shares in the last quarter. Finally, British Columbia Investment Management Corp raised its stake in Suncor Energy by 4.3% in the second quarter. British Columbia Investment Management Corp now owns 249,985 shares of the company’s stock valued at $5,338,000 after buying an additional 10,200 shares in the last quarter. Hedge funds and other institutional investors own 64.30% of the company’s stock.

About Suncor Energy

Suncor Energy Inc (Suncor) is an integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.

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