Credit Suisse Group Trims Suncor Energy (NYSE:SU) Target Price to C$60.00

Suncor Energy (NYSE:SUGet Rating) (TSE:SU) had its price target reduced by Credit Suisse Group from C$63.00 to C$60.00 in a research note published on Monday, The Fly reports.

A number of other research analysts have also recently weighed in on the stock. Jefferies Financial Group started coverage on shares of Suncor Energy in a report on Wednesday, October 19th. They issued a hold rating for the company. StockNews.com cut shares of Suncor Energy from a buy rating to a hold rating in a research note on Friday, November 4th. National Bank Financial cut their target price on shares of Suncor Energy from C$63.00 to C$53.00 in a research note on Friday, September 30th. Scotiabank cut their target price on shares of Suncor Energy from C$57.00 to C$56.00 in a research note on Thursday, October 13th. Finally, Raymond James boosted their target price on shares of Suncor Energy from C$50.00 to C$53.00 in a research note on Tuesday, November 8th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $51.33.

Suncor Energy Stock Down 1.0 %

SU opened at $35.74 on Monday. Suncor Energy has a fifty-two week low of $22.22 and a fifty-two week high of $42.72. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.91 and a current ratio of 1.26. The company has a fifty day moving average of $32.77 and a two-hundred day moving average of $33.98. The stock has a market capitalization of $48.39 billion, a price-to-earnings ratio of 8.20, a PEG ratio of 0.64 and a beta of 1.31.

Suncor Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 23rd. Shareholders of record on Friday, December 2nd will be issued a $0.3911 dividend. This represents a $1.56 annualized dividend and a yield of 4.38%. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Thursday, December 1st. Suncor Energy’s payout ratio is presently 32.80%.

Hedge Funds Weigh In On Suncor Energy

Large investors have recently made changes to their positions in the stock. Howard Financial Services LTD. acquired a new position in shares of Suncor Energy in the 3rd quarter worth approximately $29,000. Herold Advisors Inc. acquired a new position in shares of Suncor Energy in the 1st quarter worth approximately $33,000. Fortis Advisors LLC acquired a new position in shares of Suncor Energy in the 1st quarter worth approximately $33,000. Ronald Blue Trust Inc. acquired a new position in shares of Suncor Energy in the 2nd quarter worth approximately $34,000. Finally, Corsicana & Co. acquired a new stake in Suncor Energy during the 2nd quarter worth approximately $35,000. 58.79% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Company Profile

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Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada's Athabasca oil sands; explores, acquires, develops, produces, transports, refines, and markets crude oil in Canada and internationally; markets petroleum and petrochemical products under the Petro-Canada name primarily in Canada.

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