Scotiabank Issues Positive Forecast for Suncor Energy (TSE:SU) Stock Price

Suncor Energy (TSE:SU) (NYSE:SU) had its price target increased by stock analysts at Scotiabank from C$62.00 to C$70.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s price target points to a potential upside of 2.62% from the stock’s previous close.

A number of other analysts have also recently weighed in on the company. Wells Fargo & Company set a C$57.00 price objective on Suncor Energy and gave the stock an “equal weight” rating in a research report on Friday, October 17th. Desjardins boosted their price target on Suncor Energy from C$73.00 to C$74.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Royal Bank Of Canada increased their price objective on shares of Suncor Energy from C$67.00 to C$70.00 and gave the company an “outperform” rating in a research report on Friday, January 9th. Gerdes Energy Research raised their target price on Suncor Energy from C$75.00 to C$78.00 in a research note on Monday, November 10th. Finally, TD Securities boosted their price target on Suncor Energy from C$71.00 to C$73.00 and gave the company a “buy” rating in a research note on Friday, December 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$68.23.

Suncor Energy Stock Down 1.8%

Suncor Energy stock traded down C$1.23 during mid-day trading on Tuesday, reaching C$68.21. 2,155,246 shares of the company were exchanged, compared to its average volume of 4,826,544. The company has a debt-to-equity ratio of 33.35, a quick ratio of 0.83 and a current ratio of 1.59. The firm has a market cap of C$81.94 billion, a P/E ratio of 15.90, a PEG ratio of 0.15 and a beta of 0.79. The business has a fifty day moving average of C$62.12 and a 200 day moving average of C$57.94. Suncor Energy has a 12-month low of C$43.59 and a 12-month high of C$70.32.

Suncor Energy (TSE:SU) (NYSE:SU) last released its quarterly earnings results 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%.The firm had revenue of C$12.55 billion during the quarter. Research analysts anticipate that Suncor Energy will post 4.4208333 earnings per share for the current fiscal year.

Insider Transactions at Suncor Energy

In other Suncor Energy news, insider Kristopher Peter Smith sold 112,600 shares of Suncor Energy stock in a transaction on Tuesday, November 11th. The shares were 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. The trade was a 69.90% decrease in their ownership of the stock. Also, insider Troy Ward Little sold 8,711 shares of the stock in a transaction dated Monday, November 17th. The stock was sold at an average price of C$62.61, for a total transaction of C$545,395.71. Insiders have sold 164,675 shares of company stock valued at $10,208,871 in the last 90 days. 0.01% of the stock is currently owned by company insiders.

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.