Suncor Energy (TSE:SU) Price Target Raised to C$70.00

Suncor Energy (TSE:SU) (NYSE:SU) had its price objective hoisted by CIBC from C$65.00 to C$70.00 in a report issued on Thursday,BayStreet.CA reports. CIBC’s target price suggests a potential upside of 11.84% from the company’s previous close.

A number of other brokerages have also recently commented on SU. UBS Group lifted their target price on shares of Suncor Energy from C$61.00 to C$65.00 in a research report on Wednesday, November 5th. Wells Fargo & Company set a C$57.00 target price on Suncor Energy and gave the company an “equal weight” rating in a research note on Friday, October 17th. TD Securities lifted their price objective on shares of Suncor Energy from C$67.00 to C$70.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. JPMorgan Chase & Co. increased their price target on shares of Suncor Energy from C$59.00 to C$64.00 in a research report on Thursday, November 6th. Finally, Royal Bank Of Canada increased their price objective on shares of Suncor Energy from C$62.00 to C$67.00 and gave the company an “outperform” rating in a report on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$65.46.

Suncor Energy Stock Up 0.3%

Suncor Energy stock traded up C$0.17 during midday trading on Thursday, reaching C$62.59. The stock had a trading volume of 2,412,075 shares, compared to its average volume of 7,648,282. The company has a current ratio of 1.59, a quick ratio of 0.83 and a debt-to-equity ratio of 33.35. Suncor Energy has a 12 month low of C$43.59 and a 12 month high of C$64.14. The company has a fifty day moving average price of C$58.15 and a two-hundred day moving average price of C$55.05. The company has a market capitalization of C$75.19 billion, a P/E ratio of 14.59, a PEG ratio of 0.15 and a beta of 0.61.

Suncor Energy (TSE:SU) (NYSE:SU) last issued its quarterly earnings data on Tuesday, November 4th. The company reported C$1.48 EPS for the quarter. Suncor Energy had a return on equity of 18.10% and a net margin of 15.15%. As a group, equities analysts expect that Suncor Energy will post 4.4208333 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Kristopher Peter Smith sold 112,600 shares of the stock in a transaction 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 completion of the transaction, the insider 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 ownership of the stock. Also, insider Adam Husain Albeldawi sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of C$58.44, for a total transaction of C$292,200.00. Insiders sold 252,142 shares of company stock valued at $15,003,939 over the last three months. 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.