Suncor Energy Inc. (SU) Cut to “Hold” at TD Securities
Suncor Energy Inc. (TSE:SU) (NYSE:SU) was downgraded by equities research analysts at TD Securities from a “buy” rating to a “hold” rating in a research report issued on Thursday. They presently have a C$50.00 price target on the stock. TD Securities’ price objective suggests a potential upside of 10.13% from the company’s previous close.
Other equities analysts have also issued research reports about the company. Barclays PLC raised their price objective on Suncor Energy from C$47.00 to C$49.00 in a research note on Tuesday, October 10th. J P Morgan Chase & Co raised their target price on Suncor Energy from C$39.00 to C$42.00 in a report on Thursday, September 14th. CIBC raised their target price on Suncor Energy from C$50.00 to C$53.00 in a report on Tuesday, October 17th. Royal Bank Of Canada raised their target price on Suncor Energy from C$47.00 to C$48.00 in a report on Thursday. Finally, BMO Capital Markets raised their target price on Suncor Energy from C$50.00 to C$52.00 in a report on Thursday. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of C$48.92.
Suncor Energy (TSE:SU) traded down C$0.16 during trading on Thursday, reaching C$45.40. The company’s stock had a trading volume of 2,414,083 shares, compared to its average volume of 2,667,383. Suncor Energy has a 12-month low of C$36.09 and a 12-month high of C$46.66.
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In other news, insider Steven Walter Williams acquired 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The shares were bought at an average price of C$39.39 per share, with a total value of C$39,390.00. Also, insider Michael Roderick Macsween sold 55,000 shares of the firm’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of C$46.00, for a total value of C$2,530,000.00. In the last three months, insiders have purchased 3,539 shares of company stock worth $146,553 and have sold 76,100 shares worth $3,440,074.
Suncor Energy Company Profile
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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